VIENNA, Sept. 30 (Xinhua) -- Austria's gross domestic product (GDP) contraction for 2024 has been revised to 0.7 percent in real terms, an improvement from the previous estimate of 1.1 percent released in March, Statistics Austria said Tuesday.
The latest national accounts data showed that Austria's economic output declined for the second consecutive year in 2024.
"The most significant declines are seen in manufacturing, particularly in sectors specializing in investment and export goods," said Manuela Lenk, director general of Statistics Austria.
Manufacturing output dropped by 5.6 percent year-on-year in 2024. The production of motor vehicles and transport equipment slumped by 15.8 percent, while the manufacture of computer products and electrical equipment decreased by 9.5 percent.
In 2023, Austria's GDP contracted by 1 percent in real terms.
