Austrian economy may contract in Q3, grow in 2012-cenbank

VIENNA, Oct 12 (Reuters) - Austria's export-dependent economy may contract in the third quarter and stagnate in the fourth but is still expected to avoid slipping into recession, the central bank said, sticking to its forecast for 0.8 percent growth in 2012.

The Austrian National Bank said its latest business cycle indicator suggested third-quuarter gross domestic product would dip a real 0.1 percent versus the second three months and then hold steady in the final quarter of the year.

"Growth of around 3/4 percent for 2012 overall arises from the strong economic dynamism at the start of the year," it said in a statement on Friday, adding private consumption was helping offset export and industrial weakness.

The economy grew 2.7 percent in 2011 and 2.2 percent in 2010, it said.

(Reporting by Michael Shields. Editing by Jeremy Gaunt.)

(( 1 531 12 258)(Reuters Messaging: