The period of weak growth continues in emerging market economies, and the USA also saw the pace of economic expansion slow in the first half of 2016. In the EU, activity flattened, following the buoyant start early in the year, but remained on a growth path. The Brexit vote in the UK briefly upset financial markets and companies. In Austria, the weakness of global economic activity continues to be a major strain on the export industry, but expanding domestic demand continues to provide a strong stimulus to growth.