Domestic Upswing Strengthened by Investment Demand
The upswing of Austria's economy, after having lost some momentum at the beginning of the year, began to pick up speed again in the second quarter. Real GDP grew at a seasonally and working-day adjusted rate of 0.9 percent quarter-on-quarter in the second quarter (+0.6 percent in the first quarter). On a year-on-year basis, the growth rate was 3.2 percent (+3.1 percent in the first quarter). Expansion of the world economy is no longer limited to just a few regions, but has spread to all major economic regions.