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]
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OTS0016 2022-07-29/09:00