Austria's economy grew unexpectedly in the final three months of 2023, according to preliminary figures published by the WIFO institute on Tuesday, indicating a bottoming out in the industry sector and mixed developments in the service sector.

Gross domestic product grew by 0.2% quarter-on-quarter, the institute said, compared to the 0.2% drop forecast by analysts in a Reuters poll and followed two consecutive quarters of decline.

Consumer and investment demand remained subdued in the last quarter, the institute said.

 

(Reporting by Chiara Holzhaeuser in Gdansk, Editing by Rachel More)