2017 marked by accelerated economic growth and declining unemployment – Economic outlook for Austria from 2017 to 2019 (June 2017)

Christian Ragacs and Klaus Vondra ()
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Klaus Vondra: Oesterreichische Nationalbank, Economic Analysis Division

Monetary Policy & the Economy, 2017, issue Q2/17, 6-31

Abstract: Austria’s economy is recovering, with both domestic and foreign demand driving the rebound. Having accelerated by 1.4% in 2016, real GDP is projected to grow by 2.2% in 2017, 1.7% in 2018 and 1.6% in 2019. These figures represent upward revisions of 0.7 and 0.2 and 0.1 percentage points, respectively, versus the OeNB’s December 2016 outlook. The unemployment rate is forecast to decline to 5.4% by 2019 from the historic peak of 6.0% seen in 2016. The inflation rate is expected to rise to 2.0% in 2017 and to reach 1.8% in both 2018 and 2019.

Date: 2017
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