Purchasing Power Increases After Mild Recession. Economic Outlook for 2023 and 2024

Subdued purchasing power, high energy prices and sharp interest rate increases lead to a mild recession in Austria in 2023; real GDP is expected to contract by 0.8 percent. In 2024, strong real income growth and a pick-up in world trade will ensure an economic recovery (real GDP +1.2 percent). In co...

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Bibliographische Detailangaben
Link(s) zu Dokument(en):WIFO Publikation
Veröffentlicht in:WIFO Reports on Austria
Hauptverfasser: Stefan Schiman-Vukan, Stefan Ederer
Format: article
Sprache:Englisch
Veröffentlicht: 2023
Schlagworte:
Beschreibung
Zusammenfassung:Subdued purchasing power, high energy prices and sharp interest rate increases lead to a mild recession in Austria in 2023; real GDP is expected to contract by 0.8 percent. In 2024, strong real income growth and a pick-up in world trade will ensure an economic recovery (real GDP +1.2 percent). In construction, however, the recession will intensify.