(MENAFN)
Austria's economy reported the largest decline since World War II in Q2 of 2020, a report released by an independent and non-profit federal institution here on Monday.
Austria's gross domestic product (GDP) declined 12.1 percent in volume terms in Q2 of 2020 in comparison with Q1 and declined 14.3 percent since a year ago, Statistics Austria said.
Co-director general Tobias Thomas of Statistics Austria said that "this is the sharpest decline since World War II".
The accommodation and gastronomy sector suffered negative effects due to coronavirus lockdowns, having posted a real decline of 61.1 percent in comparison with the same quarter a year ago and 65.2 percent compared with a quarter earlier.
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