Recession in Austria Persists Stubbornly. Economic Outlook for 2024 and 2025

Stefan Schiman and Stefan Ederer

WIFO Reports on Austria, 2024, issue 11

Abstract: Austria's economy will remain in recession in 2024, with real GDP expected to fall by 0.6 percent. In 2025, WIFO expects an economic impulse from abroad. While investment in machinery and equipment will shrink over the entire forecast period, construction investment will benefit from the construction stimulus package in the coming year. Inflation will fall, real incomes will rise, and consumer demand will pick up, meaning that GDP will grow by 1 percent in 2025. However, unemployment will continue to rise. The public budget deficit is increasingly moving away from the Maastricht targets.

Keywords: Economic outlook; forecast (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:repoau:y:2024:i:11

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