The economic output of Austria also decreased in the fourth quarter of 2024. According to Statistics Austria, the Gross Domestic Product (GDP) has fallen by 0.4 percent. Compared to the previous year, it fell by 0.5 percent.
“This is where the location of Austria has experienced the longest phase of weakness since the start of the corresponding calculations in 1995,” said the statistics of the Statistics Austria director Tobias Thomas on Monday in a broadcast. The recession has been going on for two years.
The production, construction, gastronomy and accommodation were influenced most of the development in the fourth quarter. However, there was growth in health and education, as well as in public administration. There were also positive impulses in the retail trade.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
