High Price Competitiveness of Austrian Exporters and Recovery of Private Consumption Support Economic Activity - Economic Outlook for Austria from 2005 to 2007 (December 2005)
Gerhard Fenz () (Oesterreichische Nationalbank) Martin Schneider () (Oesterreichische Nationalbank)
Abstract
According to the December 2005 economic outlook of the Oesterreichische Nationalbank (OeNB), Austrias real gross domestic product (GDP) is projected to increase by 1.9% in 2005. Economic growth is then expected to accelerate to 2.3% in 2006 and in 2007. Inflation according to the Harmonised Index of Consumer Prices (HICP) will quicken temporarily to 2.2%in 2005 as a result of the rise in the price of oil and services and then moderate to 1.9% in 2006 and further to 1.7% in 2007.
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