Austria's economy stagnated for the fourth quarter in a row in January-March, official data showed Monday, as key European partners remained mired in recession undermining demand for Austrian exports.

Gross domestic product showed zero growth in the first quarter from the previous three-month period, the official WIFO economic institute said in a statement.

Since the second quarter of 2012, GDP had oscillated between 0.1-percent growth and a 0.1-percent contraction, according to the revised figures.

Austria last saw decent growth in the first quarter of 2012 when it reached 0.5 percent, the figures also showed.

WIFO deplored the ongoing stagnation, citing the lack of demand at home and abroad, especially in key partners in the region.

"We are seeing negative impulses from the continuing recession in many European countries, including important markets for Austria," WIFO said, adding that economic developments in major partner Germany earlier this year were "weak".

Compared with the first quarter of last year, Austrian GDP was down 0.7 percent, WIFO said.

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