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Austria’s economy again on track for growth

Economic growth © photocase.com/Diddi

© photocase.com/Diddi

January 24, 2013

Foreign demand and investment activity driving factors

Bank Austria’s economists report that the Austrian economy may again be on track for growth. GDP is expected to grow slightly in the first quarter of 2013. The gradual improvement of the Austrian economy in 2013 will be driven by two factors, most likely stronger foreign demand and higher investment activity, which could lift growth to 0.9 per cent in 2013.

Demand for exports should pick up noticeably in 2014. Demand is growing in Austria’s key export
markets such as Italy, Germany or France, and a stronger impetus is also expected from Eastern
Europe’s growth markets. Investment activity will expand more strongly in this more propitious
environment in 2014. The downward inflationary trend also improves the outlook for private
consumption.

The information provided by Bank Austria on the Austrian economy also includes current economic forecasts and the most recent data for key indicators, in some cases in the form of charts. The key indicators are supplemented by regular comments, and their impact on the forecast is analyzed in a report on the Austrian economy.

For further information, go to http://www.bankaustria.at/informationspdfs/AustrianEconomy_01-13.pdf

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