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Austrian Economy: Weak ending to 2012, but turnaround is underway

Economy ©


March 14, 2013

Outlook is good in 2013

After a weak fourth quarter in 2012, all economic indicators for Austria's economy have again been pointing upward. Austria's economy is back on the path to recovery, which should pick up momentum over the course of the year. Bank Austria’s GDP growth forecast for 2013 remains unchanged at 0.9%.
The global recovery and improvement in the European economic environment will provide demand for Austrian products. The upswing in 2013 will be particularly boosted by capital expenditures. Capital investments that had been put off for some time will be made in the coming months now that the uncertainty surrounding the Euro crisis has eased, and business opportunities are being seized more actively once again. As the year progresses, private consumer spending should turn into a pillar of growth.