AUSTRIA GDP GROWTH RATE

The Gross Domestic Product (GDP) in Austria expanded 0.20 percent in the first quarter of 2012 over the previous quarter. Historically, from 1988 until 2012, Austria GDP Growth Rate averaged 0.5 Percent reaching an all time high of 1.6 Percent in September of 1999 and a record low of -1.8 Percent in December of 2008. The Gross Domestic Product (GDP) growth rate provides an aggregated measure of changes in value of the goods and services produced by an economy. 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. Vienna has grown to finance and consulting metropolis and has established itself as the door to the East within the last decades. This page includes a chart with historical data for Austria GDP Growth Rate.

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GDP Growth Rate
The Gross Domestic Product growth rate measures the increase in value of the goods and services produced by an economy. Economic growth is usually calculated in real terms or inflation-adjusted terms, in order to net out the effect of changes on the price of the goods and services produced. The Gross Domestic Product can be determined using three different approaches, which should give the same result. These different methods are the product technique, the income technique , and the expenditure technique. In sum, the product technique sums the outputs of every class of enterprise to arrive at the total. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. The real GDP per capita of an economy is often used as an indicator of the average standard of living of individuals in that country, and economic growth is therefore often seen as indicating an increase in the average standard of living. However, there are some problems in using growth in GDP per capita to measure the general well-being of a country´s population. In fact, GDP was first developed by Simon Kuznets for a US Congress report in 1934, who immediately said not to use it as a measure for welfare. First, GDP per capita does not provide much information relevant to the distribution of income in a country. Second, GDP per capita does not take into account negative externalities such as pollution consequent to economic growth. Third, GDP per capita does not take into account positive externalities that may result from services such as education and health. Finally, GDP per capita excludes the value of all the activities that take place outside of the market place such as free leisure activities or less positive activities like organized crime.

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Japan's Trade Deficit Widens in April
Published: 5/23/2012 1:18:40 PM By: TradingEconomics.com, Ministry of Finance Japan
Japan posted a larger-than-expected trade deficit in April, widening from shortfalls in the previous month and a year earlier as exports of steel and plastic declined on reduced demand from China and imports of fossil fuels increased.

Bank of Japan Keeps Monetary Policy Unchanged
Published: 5/23/2012 12:57:08 PM By: TradingEconomics.com, Bank of Japan
At the Monetary Policy Meeting held on May 23rd, the Policy Board of the Bank of Japan decided, by a unanimous vote, to keep the uncollateralized overnight call rate at around 0 to 0.1 percent.

UK Inflation Down to 3% in April
Published: 5/22/2012 11:17:34 AM By: TradingEconomics.com, UK Statistics
UK CPI annual inflation stands at 3.0 per cent in April 2012, down from 3.5 per cent in March. The timing of Easter had a significant impact on the April data.

Japanese GDP Grows 1% in Q1
Published: 5/17/2012 11:20:34 AM By: TradingEconomics.com, Cabinet Office
Japan's gross domestic product (GDP) expanded 1.0 percent in January-March from the previous quarter after a revised 0.0 percent result for October-December last year. The recovery was mostly due to solid consumer spending, post-quake rebuilding and rising exports.

U.K. Unemployment Rate Down to 8.2 in March
Published: 5/16/2012 4:26:31 PM By: TradingEconomics.com, ONS
The unemployment rate was 8.2 per cent of the economically active population for January-March 2012, down 0.2 on the quarter. There were 2.63 million unemployed people, down 45,000 on the quarter.

Euro Area External Trade Surplus Widens in March
Published: 5/16/2012 2:52:37 PM By: TradingEconomics.com, Eurostat
The first estimate for the euro area (EA17) trade in goods balance with the rest of the world in March 2012 gave a 8.6 bn euro surplus, compared with +1.0 bn in March 2011. The February 2012 balance was +2.3 bn, compared with -2.9 bn in February 2011. In March 2012 compared with February 2012, seasonally adjusted exports fell by 0.9% and imports by 1.1%.

Euro Area Annual Inflation Down to 2.6%
Published: 5/16/2012 2:50:32 PM By: TradingEconomics.com, Eurostat
Euro Area annual inflation was 2.6% in April 2012, down from 2.7% in March. A year earlier the rate was 2.8%. Monthly inflation was 0.5% in April 2012.

U.S. Annual Inflation Down to 2.3% in April
Published: 5/15/2012 1:35:37 PM By: TradingEconomics.com, U.S. Bureau of Labor Statistics
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in April on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.3 percent before seasonal adjustment.

U.K. Trade Deficit Narrows in March
Published: 5/15/2012 12:47:10 PM By: TradingEconomics.com, ONS
The UK’s deficit in Trade in Goods and Services narrowed to £2.7 billion in March, down £0.2 billion from £2.9 billion in February.

Canada's Unemployment Rate Up to 7.3% in April
Published: 5/11/2012 1:39:49 PM By: TradingEconomics.com, Statistics Canada
Canada's employment increased by 58,000 in April, mostly in full-time work. This was the second consecutive month of notable gains after four months of little change. With more people searching for work, the unemployment rate increased by 0.1 percentage points to 7.3%.

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