Economy Headed Towards Further Expansion

Economic expansion, while slowing in the USA since summer, has been gaining further momentum in Europe. The third quarter saw Austria's economy growing once again, by 0.9 percent in real terms (seasonally adjusted, quarter-on-quarter), with real GDP thus exceeding the year-earlier level by 3.3 percent. The impetus in foreign trade was passed on to domestic demand. Investment activity once again expanded strongly, benefiting from continued buoyant industrial growth.