Purchasing Power Increases After Mild Recession. Economic Outlook for 2023 and 2024

Stefan Schiman and Stefan Ederer

WIFO Reports on Austria, 2023, issue 16

Abstract: Subdued purchasing power, high energy prices and sharp interest rate increases lead to a mild recession in Austria in 2023; real GDP is expected to contract by 0.8 percent. In 2024, strong real income growth and a pick-up in world trade will ensure an economic recovery (real GDP +1.2 percent). In construction, however, the recession will intensify.

Keywords: Business cycle; economic outlook; forecast (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:repoau:y:2023:i:16

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