Underpinned by expansionary economic policy, global economic activity has stabilised, with world trade expanding vigorously since the summer. In Austria, real GDP grew at a seasonally adjusted quarter-on-quarter rate of 0.9 percent in the third quarter, according to provisional calculations. Notably industrial activity has recovered. Construction production has only recently followed a slight upward trend. The retail sector has remained stable, thanks to strong wage increases and low inflation. Unemployment continues to rise, albeit at a slower pace than of late.