ZCZC
BCN-24
AUSTRIA-ECONOMY-GROWTH
Austrian economy to cool in coming years: research institutes
VIENNA, Dec. 21, 2018 (BSS/Xinhua) – The Austrian economy will see a
significant cooling in 2019 with the strong growth of the past years winding
down, two leading economic research institutes said on Thursday.
The Austrian Institute of Economic Research (WIFO) anticipates a drop from
this year’s expected 2.7 percent growth to 2 percent next year, while the
Institute for Advanced Studies (IHS) expects an even lower 1.7 percent growth
in the coming year.
The trend is expected to continue into 2020, with WIFO forecasting a 1.8
percent growth, and IHS 1.6 percent, on the back of a weaker global economy
and numerous economic uncertainties.
The primary risk factors at present are a hard Brexit and trade tensions
including the looming threat of economic protectionism.
Unemployment is expected to continue to fall. WIFO expects a drop from this
year’s 7.7 percent, to 7.3 percent and 7.2 percent over the next two years
respectively, as per Austria’s domestic calculation criteria.
The IHS expects this rate to sit at around 7.5 percent for the coming two
years.
BSS/XINHUA/HR/1415