Weak Growth Amid High Uncertainty. Economic Outlook for 2023 and 2024
After strong growth in the first half of 2022, the Austrian economy entered a phase of stagnation that will continue in 2023. Manufacturing and closely related sectors are now in recession, while market-related services are expanding overall. This dichotomy in the business cycle is not expected to a...| Link(s) zu Dokument(en): | WIFO Publikation |
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| Veröffentlicht in: | WIFO Reports on Austria |
| Hauptverfasser: | , |
| Format: | article |
| Sprache: | Englisch |
| Veröffentlicht: |
2023
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| Zusammenfassung: | After strong growth in the first half of 2022, the Austrian economy entered a phase of stagnation that will continue in 2023. Manufacturing and closely related sectors are now in recession, while market-related services are expanding overall. This dichotomy in the business cycle is not expected to abate until 2024. After +0.3 percent in 2023, WIFO expects GDP growth of 1.4 percent in 2024. The upward pressure on prices will only subside slowly. |
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