Economy in the Länder. 1st Quarter 2014

Growth was again weak in Austria in the first quarter 2014. GDP expanded by 0.3 percent according to WIFO's Flash Estimate (4th quarter 2013 +1.3 percent). However, employment growth continued (1st quarter +0.9 percent, 2nd quarter +0.8 percent). This rise was not enough to absorb the increase in labour supply. Unenployment rose by 9.5 percent year-on-year and 14.7 percent, respectively. In the Austrian regions, the development was uneven: While industry enjoyed positive effects of the expanding exports (1st quarter +0.8 percent), retail trade stagnated because of the weak private consumption. Tourism stays were lower than last year (January to April 2014 –3.3 percent), especially in the Western Länder.