World Economy

Austria Grew 0.9% in 2015

Austria Grew 0.9% in 2015Austria Grew 0.9% in 2015

The Austrian economy has grown 0.3% in the fourth quarter of 2015, taking total GDP growth for the year to 0.9%, the Austrian Institute of Economic Research announced in a flash calculation on Friday, Xinhua reported. The institute had previously expected 0.8% growth for the entire year. On a year-on-year basis, the Austrian economy grew an even larger 1.1%. Total consumption increased 0.3% over the third quarter, with public expenditure on asylum seekers providing a significant boost to overall public consumption, while private consumption also saw a slight increase to 0.2% following three consecutive quarters of 0.1% growth.