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||1996 - 2015
Ever since the end of the World War II, Austria has achieved sustained economic growth. In particular, the access to the single European market through European Union membership has brought economic benefits and challenges and has drawn an influx of foreign investors. Most important for Austria is the service sector generating the vast majority of Austria's GDP. On the expenditure side, private final consumption expenditure is the main component of GDP and accounts for 54 percent of its total use, followed by gross fixed capital formation (22 percent) and government final consumption expenditure (20 percent). Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted by 3.8 percent in 2009 but saw positive growth in the following years. However, the growth has been weak since 2012 and in 2014 it expanded only by 0.4 percent, as household consumption struggles to recover. This page provides - Austria GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Austria GDP Growth Rate - was last refreshed on Sunday, October 4, 2015.