Press release: 12.382-222/20
Vienna, 2020-30-11 – From July to September 2020, the Austrian gross
domestic product (GDP) increased by 12.0% in real terms compared
to April to June (seasonal and working day adjusted), as Statistics Austria
reports. Compared to the third quarter 2019, a decline of 4.0% in real
terms was recorded. The temporary easing of measures to contain the
COVID-19 pandemic stimulated nearly all industries, private consumption,
capital formation as well as foreign trade. Overall, however, the economy
remained below the pre-crisis level.
Recovery of consumption, capital formation
and foreign trade
In the third quarter of 2020, consumption
of private households showed a substantial growth of 13.3% in real terms
compared to the previous quarter. The decline of 5.1% compared to the
third quarter of 2019 can be traced back to a still weak demand for
services. In contrast, demand for durable consumption goods, in particular
furniture, recorded a substantial catch-up effect (+7.7% in real terms
compared to the previous year's third quarter).
Capital formation
in the third quarter of 2020 increased by 7.9% in real terms compared
to the second quarter (-0.7% in real terms compared to the third quarter
2019), thereby offsetting nearly all of the losses of the first half
year. The upward trend affected all parts of capital formation, in particular
capital formation in transport equipment (+17.5% compared to the previous
quarter, +6.4% compared to the third quarter of 2019) and in machinery
(+14.0% compared to the previous quarter, -3.7% compared to the third
quarter of 2019).
The worldwide slowdown in the spread of COVID-19 during
summer resulted in a recovery of foreign trade.
Austrian exports rose by 16.1% in real terms compared to the second
quarter and imports rose by 12.1% during the same period. The still
high rates of decline compared to the previous year's quarter (-8.6%
in exports, -9.1% in imports) are due to restrained cross-border trade
of services, particularly in tourism.
Surge in growth of services
Nearly all industries recovered during the summer
months. Above all, the industries most affected by the lockdown during
the first half of the year recorded remarkable real growth rates from
the second to the third quarter. Trade and transportation as well as
accommodation and food services grew by 32.9% (-4.5% compared to the
third quarter of 2019). Arts, recreation and personal services increased
by 39.2%. However, the losses were not fully compensated (-7.7% in real
terms compared to the third quarter of 2019).
Manufacturing also gained momentum during the third
quarter of 2020 (+15.7% in real terms compared to the previous quarter,
-4.0% in real terms compared to the previous year's quarter). Construction
recorded real growth of 10.1% compared to the previous quarter and thereby
reached pre-crisis levels (+0.2% in real terms compared to the previous
year's quarter).
Industries which were rarely affected by the lockdown,
such as real estate activities, public administration and health services,
remained overall stable (real estate activities: -0.4% in real terms
compared to the second quarter and +1.5% in real terms compared to the
third quarter of 2019, public administration and health services: +0.5%
in real terms compared to the second quarter and +0.6% in real terms
compared to the third quarter of 2019).
| 2018 | 2019 | 2020 |
---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 1,2 | 0,4 | 0,2 | 0,9 | 0,8 | -0,3 | 0,3 | -0,5 | -2,8 |
-11,6 |
12,0 |
---|
%
to previous year, unadjusted | 2,7 | 2,5 | 2,1 | 3,0 | 2,2 | 1,4 | 1,7 | 0,4 | -3,4 |
-14,1 |
-4,0 |
---|
|
| 2018 | 2019 | 2020 |
---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 1,3 | 0,0 | -0,6 | 0,7 | 1,3 | -0,5 | 0,0 | -0,5 | -3,3 |
-7,9 |
9,1 |
---|
%
to previous year, unadjusted | 1,2 | 1,8 | 0,1 | 1,4 | 1,1 | 0,8 | 1,6 | 0,6 | -3,5 |
-11,6 |
-3,5 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 1,7 | -0,6 | -0,4 | 0,4 | 1,5 | -0,6 | -0,4 | -0,4 | -4,7 |
-11,4 |
13,3 |
---|
%
to previous year, unadjusted | 1,5 | 1,5 | -0,2 | 1,2 | 0,4 | 1,1 | 1,2 | 0,5 | -5,0 |
-16,3 |
-5,1 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 0,6 | 2,8 | -1,0 | 2,6 | 2,3 | 0,7 | -1,2 | -2,1 | -0,2 |
-7,2 |
7,9 |
---|
%
to previous year, unadjusted | 3,1 | 4,7 | 2,5 | 5,0 | 7,6 | 4,5 | 4,7 | 0,0 | -3,4 |
-12,7 |
-0,7 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 0,4 | 2,9 | -0,8 | 1,2 | 2,7 | -1,4 | 0,3 | -0,2 | -4,2 |
-18,4 |
16,1 |
---|
%
to previous year, unadjusted | 6,0 | 5,7 | 5,2 | 5,3 | 4,4 | 2,4 | 2,6 | 2,2 | -4,4 |
-22,1 |
-8,6 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 1,3 | 1,2 | -0,2 | 3,2 | 2,2 | -1,1 | -1,7 | -2,3 | 0,1 |
-17,4 |
12,1 |
---|
%
to previous year, unadjusted | 4,7 | 4,6 | 4,2 | 6,5 | 5,7 | 4,9 | 2,2 | -2,6 | -5,1 |
-21,3 |
-9,1 |
---|
|
| 2018 | 2019 | 2020 |
---|
| Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 1,5 | 0,8 | 1,3 | 2,3 | 0,2 | -0,9 | -0,8 | -1,9 | -1,1 |
-13,9 |
14,6 |
---|
%
to previous year, unadjusted | 3,5 | 4,9 | 4,5 | 6,7 | 5,0 | 1,9 | 0,9 | -3,4 | -5,2 |
-17,3 |
-3,3 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 0,0 | 0,8 | 0,4 | 1,0 | 0,6 | 0,7 | 0,7 | 0,8 | 0,0 |
-9,3 |
10,1 |
---|
%
to previous year, unadjusted | 1,4 | 1,4 | 1,7 | 2,4 | 2,5 | 2,5 | 2,8 | 2,8 | 2,0 |
-8,3 |
0,2 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 1,4 | 0,1 | -0,5 | 1,1 | 0,4 | -0,4 | 1,4 | -1,0 | -8,1 |
-21,2 |
32,9 |
---|
%
to previous year, unadjusted | 3,3 | 1,0 | 1,4 | 2,7 | 0,3 | 1,0 | 2,8 | 0,7 | -8,1 |
-26,7 |
-4,5 |
---|
|
---|
%
to previous quarter, seasonal and calendar adjusted | 0,1 | 0,4 | 0,1 | 0,1 | 0,3 | 0,3 | 0,0 | 0,1 | 0,3 |
-0,4 |
0,5 |
---|
%
to previous year, unadjusted | 0,8 | 1,0 | 0,7 | 0,8 | 0,9 | 0,4 | 0,5 | 0,7 | 0,7 |
-0,4 |
0,6 |
---|
|
For further inquiries please contact Directorate
Macro-economic Statistics, Statistics Austria:
Kathrin LAIS, Tel. +43 1 71128-7285 resp. kathrin.lais@statistik.gv.at
Media owner, producer and publisher:
STATISTICS AUSTRIA, Federal Institution under Public Law
1110 Vienna, Austria, Guglgasse 13, Tel.: +43 1 71128-7777
presse@statistik.gv.at
© STATISTICS AUSTRIA
© STATISTICS AUSTRIA,
Last Changed 30.11.2020