Economy

Austria’s economy grows 12% in Q3 helped by private consumption, investments

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BERLIN, Nov 30 (Reuters) – Austria’s economy grew by 12% in the third quarter compared to the April-June period thanks to a pickup in activity after pandemic-related restrictions were eased, the statistics office said on Monday.

“Following a coronavirus-related historic slump in Austrian economic output in the second quarter 2020, the summer saw an economic rebound in almost all sectors, in private consumption, investments and foreign trade,” said Statistik Austria’s Director General Tobias Thomas.

Compared to the previous year’s period, third quarter gross domestic product (GDP) was down 4%. (Reporting by Kirsti Knolle; editing by Thomas Seythal)

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