Solid Domestic Demand Set to Last Awhile. Economic Outlook for 2017 and 2018

Stefan Schiman

in WIFO Economic Outlook from WIFO

Abstract: Domestic demand is rising swiftly, fuelled by the income tax cuts, which should drive purchases of durable consumer goods well until the middle of 2017. Investment in 2016 was largely concentrated on motor cars, benefitting domestic production to a lesser extent. As the effects of the tax reform taper off and inflation picks up, growth is set to lose some momentum, with high unemployment weighing on consumption and foreign demand rising only moderately. In spite of robust employment growth, job creation cannot keep pace with the access of new labour, keeping the jobless rate on the rise.

Date: 2016
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Journal Article: Solid Domestic Demand Set to Last Awhile. Economic Outlook for 2017 and 2018 (2017)
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