Domestic Business Activity Strengthening Gradually. The Austrian Economy in 2015

Austria's GDP grew by 0.9 percent in 2015, picking up slightly from 2013 and 2014. The recovery was supported by a moderate expansion of consumption spending and a revival of investment. Export growth and manufacturing output were dampened by weak business activity abroad, while the trade and distribution sector as well as tourism provided positive demand incentives. Labour supply once again rose more than employment, driving up registered unemployment particularly in the first half of the year. On annual average, the jobless rate climbed from 8.4 percent in 2014 to 9.1 percent. Lower energy prices brought the rate of inflation down to 0.9 percent in 2015.