Adverse Supply Shocks Hit Buoyant Economy. Economic Outlook for 2022 and 2023

Stefan Schiman and Stefan Ederer

WIFO Reports on Austria, 2022, issue 6

Abstract: The Ukraine war leads to renewed significant negative supply shocks that do not allow domestic industry to grow. Inflation remains high for longer and dampens the growth of private consumption. The large catch-up potential in tourism makes it a pillar of growth this year. Overall, more than half of the expected 3.9 percent growth rate for 2022 is due to accommodation and food services. The labour market trend remains favourable.

Keywords: Business cycle; economic outlook; forecast (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:repoau:y:2022:i:6

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