Regional Economic Development. 4th Quarter of 2017

At a rate of +2.9 percent, the Austrian economy grew even more strongly in 2017 than in the previous year, thus continuing the increasing economic dynamics of recent periods. Rising demand from both Austria and abroad contributed to this positive development, which remained largely constant throughout the year. As a result, unemployment rates (in the fourth quarter) also fell in all Länder. The regional business cycle indicators for the 4th quarter of 2017 show that the growth performance of the secondary sector (especially the manufacturing industries) contributed significantly to the overall economic development in Austria, but varied across the individual Länder.