Austrian economy sees slow growth of 0.3 pct in Q2

VIENNA, July 31 (Xinhua) -- The Austrian economy slowed down in the second quarter with GDP growth of 0.3 percent, the Austrian Institute of Economic Research (WIFO) revealed on Tuesday.

The institute's latest flash report sees GDP growth down slightly from 0.4 percent in the first quarter and 0.5 percent in the final quarter of 2018.

Unadjusted second-quarter GDP growth was 1.7 percent higher than in the previous year. The final quarter of 2018, however, had a much stronger result of 2.4 percent.

The WIFO said the slowing comes on the back of weaker growth in both foreign trade and industry, though consumer demand has continued to be a dependable stabilizing factor for the economy.