Economic Slowdown Dims Growth Throughout Austria, Industrial Regions Lose their Growth Edge

After two years of highly dynamic growth in Austria, the global slowdown impacted in 2012 when Austria's economy managed just a relatively minor increase of its real GDP (+0.8 percent). With a few exceptions, all the economic sectors reported value-added growth rates lower than those of the previous years. In manufacturing, which greatly depends on exports and the production of capital goods, the growth of 8.2 percent in 2011 changed to a just slightly above-average rise in gross value added of 1.1 percent.