RTTNews - Friday, Austrian Institute of Economic Research or WIFO said in a report that the gross domestic product dropped a seasonally and working day adjusted 2.8% sequentially in the first quarter, compared to the 0.4% decline in the previous quarter.

On an annual basis, the GDP decreased 3.6% in the first quarter, after a flat reading in the previous quarter.

Meanwhile, the seasonally adjusted jobless rate stood at 7.2% in April, up from 7% in March.

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