APA ots news: WIFO: Growth dynamics decreased in the second quarter of 2022

Vienna (APA-ots) – According to the current flash estimate by WIFO, the

Austrian economic output in the second quarter of 2022 compared to

up 0.5% qoq. In addition to growth in service sectors contributed

Solid development in the industry also contributes to growth. on

on the demand side, both foreign trade and

Investments make a positive contribution to growth. The consumer spending

of private households, on the other hand, declined.

According to the first calculations, GDP increased in the second quarter of 2022

price-adjusted by 0.5% (Q1 2022 +1.5%) compared to

Previous period (key figure according to Eurostat specifications). year-on-year comparison

this means an increase of 4.7% compared to the second quarter of 2021.

GDP was thus 2.0% above the pre-crisis level (reference period

IV quarter of 2019).

The strongest growth impetus currently came from the divisions

Accommodation and catering, the other economic

Services (NACE 2008 Sections M and N) and the others

Services (NACE 2008, Sections R to U), where here

partially still positive base effects tapering off

health policy measures are included.

From a macroeconomic perspective, the growth momentum cooled off

however, on a broad basis in the second quarter of 2022. The added value in

of industry (NACE 2008, Sections B to E) increased by 0.7%, in which

Construction industry by 0.1% (Q1 +1.1% and +1.6%), respectively in

compared to the previous quarter. In trade, the added value in the II.

quarter back.

Figure 1: Development of the real gross domestic product – on

the [WIFO-Website] (https://www.wifo.ac.at/wwa/pubid/69734)

Conversely, consumer demand from private households fell

(including private non-profit organizations) by 1.9%

compared to the previous quarter. Increased uncertainties in

overall economic environment and high price dynamics had a dampening effect

the development of consumer spending. Public consumption was also increased

currently not expanded.

The external economic momentum continued in the second quarter

good, especially tourist exports expanded. All in all

exports increased by 2.7%. With an increase in imports of 0.5%

the external contribution made a positive contribution to overall economic growth

at.

Investment demand also developed positively

Gross fixed capital formation increased by 1.2% q/q.

Table 1: Results of the flash estimate of the quarterly

National accounts – on the [WIFO-Website]

(https://www.wifo.ac.at/wwa/pubid/69734)

Subtitle: Important information

The WIFO quick estimate is a first estimate for the

past quarter. It is based on the quarterly accounts of statistics

Austria and includes GDP and components in the form of

seasonally and working day adjusted rates of change from

Previous quarter (key figure according to Eurostat specifications).

Statistics Austria will provide the quarterly data at the beginning of September

for GDP and main aggregates for the second quarter of 2022

more complete data published.

Query note:

Please direct any queries to Mag. Sandra Bilek-Steindl on Friday, July 29, 2022, between 9 a.m. and 11 a.m., Tel. (1) 798 26 01 – 244, [email protected] or Dr . Jürgen Bierbaumer, Tel. (1) 798 26 01 – 239, [email protected]

Digital press kit: http://www.ots.at/pressemappe/235/aom

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