Second Year of Recession in Austria. The Austrian Economy in 2024

Josef Baumgartner, Juergen Bierbaumer-Polly, Sandra Bilek-Steindl, Benjamin Bittschi, Christian Glocker and Margit Schratzenstaller
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Christian Glocker: WIFO

WIFO Reports on Austria, 2025, issue 7

Abstract: The Austrian economy experienced its second consecutive year of recession in 2024. In addition to the decline in industrial activity, construction and some service sectors also weakened. The budget deficit increased to 4.7 percent of GDP due to the economic downturn and one-off measures. Despite an increase in gross real income, consumer demand from private households was sluggish. After two years of very high inflation, it slowed to an annual average of 2.9 percent in 2024.

Keywords: Economic; development; in; Austria (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:repoau:y:2025:i:7

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