Austria Economic Forecast

Austria Economic Outlook

September 25, 2018

Available indicators suggest that momentum in the Austrian economy continues to moderate in quarter-on-quarter terms from the highs recorded between the fourth quarter of 2016 and Q1 2018. Consumer confidence dipped slightly in August on the back of less upbeat sentiment regarding the trajectory of the overall economy and the financial situation of households in the year ahead. Moreover, business sentiment levels for the first two months of Q3 trended below the average reading of the previous quarter, while August’s manufacturing PMI resumed the downward path it has generally followed since the start of the year. The labor market, nevertheless, continues to perform well despite an uptick in July. This comes after a second quarter in which the economy shifted into a lower gear but still grew above the EU-average thanks to strong private consumption gains.

Austria Economic Growth

Despite moderating from recent highs, growth in the economy is expected to remain resilient in the remainder of this year and next. Robust domestic demand spurred by private and public consumption and a strong external sector should buttress economic activity. However, the lack of clear funding plans for the proposed tax reforms by 2020 present a medium-term downside risk. The FocusEconomics panel forecasts GDP will grow 2.9% in 2018 and 2.0% in 2019, which is up 0.1 percentage points from last month’s estimate.

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Austria Facts

Bond Yield0.710.40 %Oct 12
Exchange Rate1.160.65 %Oct 12
Stock Market3,201-1.00 %Oct 12

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