BRUSSELS (dpa-AFX) - Austria's economy logged a slight recovery in the first quarter, though at a slower pace than initially estimated, the latest data from Statistics Austria showed on Friday.
Gross domestic product advanced 0.1 percent sequentially, after a revised flat change in the fourth quarter. In the initial estimate, the rate of expansion was 0.2 percent. Moreover, the economy grew for the first time since the first quarter of 2024.
Despite the slightly positive economic development in the first quarter, GDP is still well below the peak in 2022, the agency said.
The expenditure breakdown showed that household consumption rose marginally by 0.1 percent, while government consumption grew strongly by 2.3 percent.
At the same time, gross fixed capital formation dropped by 0.2 percent. Exports of goods rose 0.4 percent, while imports of goods and services dropped by 1.1 percent.
On a yearly basis, GDP decreased at a slower pace of 0.5 percent, following a revised 0.1 percent drop in the fourth quarter. In the flash report, the rate of contraction was 0.7 percent.
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