Vienna: Austria's gross domestic product (GDP) contracted for the sixth consecutive quarter in the July-to-September period, signaling the country's continued recession. The GDP declined by 0.6 percent in real terms in the third quarter (Q3) compared to the same period last year, extending the economic downturn that began in Q2 2023. A recession is generally defined as two consecutive quarters of economic contraction.According to Namibia Press Agency, Statistics Austria reported on Wednesday that the country's manufacturing sector experienced "a significant decline" of 3.7 percent in Q3, as it continued to suffer from the global economic downturn. This contraction in the manufacturing sector underscores the challenges faced by Austria's economy amid a sluggish global market.Furthermore, Austria's foreign trade has also recorded marked declines in the first eight months of this year. Imports fell by 9.8 percent, while exports decreased by 4.4 percent compared to the same period last year, according to the statement. This decline in trade activity highlights the broader issues affecting the Austrian economy and its integration in the global trade network.On a more positive note, Statistics Austria reported that inflation, estimated at 1.9 percent in November, has dropped from the high levels seen in recent years. It has now stabilized below the European Central Bank's medium-term target of 2 percent. This decrease in inflation may offer some relief to consumers and policymakers amid the ongoing economic challenges.