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Global Economic Downturn Hits Austria. Economic Outlook for 2022 to 2024

Author

Listed:
  • Stefan Ederer
  • Christian Glocker

    (WIFO)

Abstract

The international economic downturn also affected the Austrian economy in the second half of 2022. GDP is expected to decline in the winter half-year. Stimulus from foreign trade is expected to revive in spring 2023. The gradual easing on the energy markets is dampening inflation and should contribute to an improvement in sentiment over time and a pick-up in economic activity. In 2022, Austria's economic output will grow by 4.7 percent. In 2023, GDP is expected to largely stagnate (+0.3 percent), while in 2024 growth will increase to 1.8 percent.

Suggested Citation

  • Stefan Ederer & Christian Glocker, 2023. "Global Economic Downturn Hits Austria. Economic Outlook for 2022 to 2024," WIFO Reports on Austria, WIFO, issue 1, January.
    • Handle: RePEc:wfo:repoau:y:2023:i:1
    as

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    File URL: https://www.wifo.ac.at/wwa/pubid/70612
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