Austria Economic Forecast

Austria Economic Outlook

April 30, 2019

Growth in the Austrian economy likely maintained a steady current amid mixed data. Consumers turned slightly more pessimistic in Q1 than they were in the final months of last year. Moreover, the unemployment rate rose to an over one-year high in February. Although these factors likely dragged on private consumption in the quarter, weaker inflationary pressures should have aided spending somewhat. Indeed, retail sales growth picked up in the first two months of the year while new car registrations jumped in Q1 over Q4 2018. Looking at the business sector, despite moderating slightly from the previous quarter, confidence among firms remained elevated through March. Furthermore, industrial production data was surprisingly strong in January and February but with manufacturing PMI data showing a contraction in April, output growth is likely to soften in subsequent months.

Austria Economic Growth

The economy is seen losing a step this year, although the pace of expansion is expected to remain solid. Domestic demand should buttress growth as public expenditure picks up and private consumption remains robust. The contribution of the external sector will likely ease amid global trade tensions and moderating activity across Europe. The Met the why particular panel forecasts GDP will grow 1.7% in 2019, which is unchanged from last month’s estimate, and 1.6% in 2020.

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Austria Facts

Bond Yield0.240.11 %May 13
Exchange Rate1.120.65 %May 13
Stock Market3,011-1.00 %May 13

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