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The Austrian economy grew by 0.5% QoQ in the 3Q according to a first flash estimate from the Austrian Institute of Economic Research, 0.3 percentage points above the eurozone GDP growth rate, points out Inga Fechner, Economist at ING.

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“The more volatile Eurostat measure confirms the positive picture, coming in at 0.4% quarter-on-quarter. Second-quarter growth was revised down a notch to 0.6% from 0.7% (Eurostat: 0.3%). While momentum continues to decline, overall, economic growth remains favourable with the economy remaining on track to grow 2.8% year-on-year.”