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Strong Economic Upswing in Austria. Economic Outlook for 2021 and 2022

Author

Listed:
  • Christian Glocker

    (WIFO)

Abstract

The global economic outlook has improved significantly since the last forecast. This also has consequences for the expected recovery in Austria. Leading indicators point to the beginning of a boom phase, which in 2021 will be mainly driven by the favourable industrial economy. In 2022, tourism will contribute disproportionately to domestic economic growth. After the decline in the previous year (–6.3 percent), WIFO expects real GDP growth of 4 and 5 percent for 2021 and 2022, respectively.

Suggested Citation

  • Christian Glocker, 2021. "Strong Economic Upswing in Austria. Economic Outlook for 2021 and 2022," WIFO Reports on Austria, WIFO, issue 8, July.
    • Handle: RePEc:wfo:repoau:y:2021:i:8
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    File URL: https://www.wifo.ac.at/wwa/pubid/67367
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