RTTNews - Austria's gross domestic product or GDP contracted by a revised 2.6% sequentially in the first quarter, faster than a 0.4% fall in the fourth quarter, the Austrian Institute of Economic Research or WIFO said Wednesday. In the flash estimate on May 15, the GDP was reported to have fallen 2.8% in the first quarter.
Year-on-year, the GDP slipped 3.5% in the first quarter, revised from a 3.6% decline reported earlier. In the fourth quarter, the GDP recorded zero growth.
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