This means that domestic economic output is 0.5 percent higher than before the outbreak of the corona pandemic. The positive development was supported by practically all sectors of the economy, especially by industry, construction and trade.
Gastronomy and accommodation grew strongly again in the first quarter of 2022, but are still “a good deal” away from the pre-crisis level, according to the report by Statistics Austria. The tourist winter season was about a quarter below the pre-crisis level. Tobias Thomas, Director General of Statistics Austria, said that how things will continue will largely depend on the war in Ukraine. GDP in the first quarter was 1.5 percent higher in real terms than in the previous quarter, i.e. in the fourth quarter of 2021.
Source: Nachrichten
