Austria’s economy has contracted more than expected

Austria’s economy has contracted more than expected

At the end of July, Wifo had only assumed a minus of 0.3 percent.
Image: Wolfgang Filser

This is mainly due to the declining economic output of trade and industry. At the end of July, Wifo had only assumed a minus of 0.3 percent.

“Nevertheless, Austria’s economy is 3.2 percent above the Corona pre-crisis level,” explains Statistics Austria Director General Tobias Thomas, according to the broadcast. Compared to the first quarter, Austria’s economy shrank by 0.7 percent.

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: Nachrichten

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