Austrian economy sees continued upswing in Q3: institute

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Austria currently owns 423 ski areas. One in every 14 jobs in the country is directly or indirectly connected with ski-tourism, which accounts for 4 percent in the country's gross domestic product.
Austria currently owns 423 ski areas. One in every 14 jobs in the country is directly or indirectly connected with ski-tourism, which accounts for 4 percent in the country's gross domestic product.

The economic momentum in Austria continued in the third quarter, seeing GDP growth of 0.8 percent, the Austrian Institute of Economic Research (WIFO) has said.

The growth seen matches that of the second quarter, and follows 0.9 percent growth in the first quarter, WIFO said in its latest flash calculation.

Measured over the past year, the total GDP growth rate is some 2.6 percent, it said.

WIFO said the economic upswing is broad-based, with both domestic demand and foreign trade strong contributors to the positive result.

An expansion in investments and industry were also growth areas, as was construction, albeit with a slight weakening of growth momentum, it said. The retail and hotel and restaurant sectors also contributed positively.

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