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Austrian economic growth to reach 3.4% this year

Statistics © photocase.com/nortys

© photocase.com/nortys

08.10.2007

Export continues to be the driving force of the Austrian economy and is to thank for GDP growth this year of 3.4%. Experts predict economic growth of 2.6% in 2008.  

Austria's economy will see unexpectedly high increases this year, but is expected to lose its tempo in 2008. The Austrian Economic Research Institute Wifo and IHS (Institute for Advanced Studies) have adjusted the annual forecast to include 2007 GDP growth of 3.4% (Wifo) and 3.2% (IHS) - a slight plus on earlier forecasts by 0.2% or 0.1%. Economists predict a GDP rise of 2.4% (Wifo) and 2.6% (IHS) for 2008. The predicted values mean that the Austrian economy will rise as fast this year as in 2006. The driving force of the Austrian economy continues to be exports.

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