Austria Economic Forecast

Austria Economic Outlook

October 23, 2018

Recent data continued to hint at a slight loss of economic momentum in quarter-on-quarter terms in the third quarter. Consumer sentiment and business confidence both averaged lower in Q3 compared to the second quarter. The same was true of the manufacturing PMI, which fell to a near two-year low in September on moderating growth in output and new orders. In addition, industrial output growth slowed to a near one-year low in July on a marked easing of capital goods production. Nonetheless, the external sector continued to perform well in July, in part thanks to buoyant trade with the European Union, resulting in a narrowing of the trade deficit in annual terms. Moreover, the tight labor market should have continued supporting private consumption despite the unemployment rate ticking up in July–August.

Austria Economic Growth

Although economic growth is expected to decline from recent highs, it should remain healthy. Private and public expenditure should buttress the economy, with consumers benefiting from a tight labor market which should translate in higher wages. However, souring global trade sentiment poses a downside risk, while labor shortages could constrain growth. The Met the why particular panel forecasts GDP will grow 2.0% in 2019, which is unchanged from last month’s estimate, and 1.8% in 2020.

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Austria Facts

Bond Yield0.600.11 %Nov 15
Exchange Rate1.130.65 %Nov 15
Stock Market3,135-1.00 %Nov 15

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