Austrian GDP expands by 4.3% in Q2 as consumer demand picks up


© Reuters. FILE PHOTO: People walk through a shopping plaza decorated for the holidays in the city centre of Sydney, Australia, December 17, 2020. REUTERS/Loren Elliott

(Reuters) – Austria’s economy grew by 4.3% in the second quarter, a flash estimate from think tank Wifo showed on Friday, citing an increase in consumer demand and a recovery in the services sector amid easing of COVID-19-related restrictions.

Gross domestic product (GDP) growth resumed after two negative quarters, added Wifo, which compiles data for the government, noting that a recovery of the industrial economy also continued in the period.

The Vienna-based think tank said GDP grew by 11.4% when compared to the prior-year period.

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