Still No Turnaround in Austria's Industry and Construction Sectors

Austria's economy grew by 0.3 percent in the third quarter of 2024 compared to the previous period. The industrial and construction sectors remain in recession. The persistently pessimistic business sentiment and weak consumer confidence suggest that no improvement in the economy can be expected at present. The seasonally adjusted unemployment rate was 7.3 percent in October. The fall in energy prices dampened inflation to 1.8 percent.