BUSINESS INFORMATION - Austria's economy shrank 0.5 percent in the second quarter compared with the first quarter and down 4.6 percent from a year earlier, official figures showed last Thursday, showed the worst of the recession behind it.
Statistical institute WIFO before placing the contraction in 0.4 percent and 4.4 percent, because the economy shrank for the fourth consecutive quarter.
Although the data was revised higher, quarterly contractions better than the 2.7 percent contraction reported in the first quarter, suggesting the worst was over.
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