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Austria expects Increased Economic Growth

Austria's Economic Growth © photocase.com/Chobe

© photocase.com/Chobe

December 17, 2010

GDP grows by 2.1% in 2011

Adopting a more optimistic stance on Austria’s future economic development than at mid-year, the Austrian National Bank (Oesterreichische Nationalbank /OeNB) revised its economic growth forecast. The gross domestic product (GDP) is expected to go up by 1.9% in 2010, by 2.1% in 2011 and by 2.3% in 2012. The upswing is mainly driven by exports. In late 2011 exports are likely to reach the pre-crisis level. Employment is expected to grow in the next two years.

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