Austria’s Economy Shrinks In Q4

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12:11 GMT

Feb 2009

Austria’s Economy Shrinks In Q4

(RTTNews) - Austria’s gross domestic product, or GDP, fell 0.2% quarter-on-quarter in the final three months of 2008 after stagnating in the third quarter, Austrian Institute of Economic Research, or Wifo, said Friday.

The think tank said the fall in GDP was mainly due to a decline in exports

The economy grew 0.3% from the previous year versus an annual growth of 1.5% in the third quarter. The economy grew 1.8% in 2008.

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