Following the election of Donald Trump as the next US president, financial markets became more upbeat in their appraisal of the growth outlook for the USA. British value added and especially gross fixed capital formation grew at a robust pace after the Brexit decision. Economic sentiment improved in the euro area and in Austria prior to Italy's constitutional referendum. In Austria, the pace of economic growth in the third quarter somewhat exceeded the euro area average; summer tourism results were extremely good. But due to strong immigration, unemployment remains high (especially in the tourism sector), although it has barely risen further this year owing to accelerated employment growth.