Domestic Demand and Strong Exports Stimulate the Economy

Christian Ragacs and Johann Scharler ()
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Johann Scharler: Simon Fraser University, Department of Economics, 8888 University Drive, Burnaby, B.C., Canada V5A 1S6, http://www.oenb.at

Monetary Policy & the Economy, 2006, issue 2, 6–23

Abstract: According to the June 2006 economic outlook of the Oesterreichische Nationalbank (OeNB), Austria’s real gross domestic product (GDP) is expected to grow 2.5% in 2006 and 2.2% in both 2007 and 2008. The OeNB’s growth forecast for 2006 has been revised upward by 0.2 percentage point since the December outlook. Inflation will drop to 1.7% in 2006 (2005: 2.1%) and will fall further to 1.6% in 2007 and 2008. Employment will continue to increase substantially, but so will the labor supply. As a result, the unemployment rate will dip only slightly, to 5.1%.

Keywords: Economic Forecast; Austria. (search for similar items in EconPapers)
Date: 2006
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