Austria's economy expanded 0.9% sequentially in the third quarter after contracting 0.5% in the second quarter, the Austrian Institute of Economic Research or WIFO said Friday. The economy exited recession after contracting in past four quarters.
Exports rose 1.4% in the third quarter, compared to the second, while imports were up 0.9%. Private consumption increased 1.2% and government expenditure climbed 1.8%. Gross fixed capital formation was up 1.4%.
Compared to the previous year, GDP fell 2.4% in the third quarter versus a 5.3% contraction in the second quarter.
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