Austria's GDP growth forecast shows fall in Q1 amid growth concerns

Austria's gross domestic product growth will ease to 0.3 per cent in the first three months of this year compared with the previous quarter when it reached 0.4 per cent, the country's central bank predicted on Wednesday.

GDP growth will, however, return to 0.4 per cent in the second quarter, it said in an update to its economic forecasts. "Austria's economy is visibly confronted with global risks to growth and is, therefore, losing momentum," the Austrian National Bank said. "Due to robust domestic growth, however, the slowdown in Austria will not be as great as in the euro area (as a whole)."