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Weak Growth Amid High Uncertainty. Economic Outlook for 2023 and 2024

Author

Listed:
  • Christian Glocker

    (WIFO)

  • Marcus Scheiblecker

Abstract

After strong growth in the first half of 2022, the Austrian economy entered a phase of stagnation that will continue in 2023. Manufacturing and closely related sectors are now in recession, while market-related services are expanding overall. This dichotomy in the business cycle is not expected to abate until 2024. After +0.3 percent in 2023, WIFO expects GDP growth of 1.4 percent in 2024. The upward pressure on prices will only subside slowly.

Suggested Citation

  • Christian Glocker & Marcus Scheiblecker, 2023. "Weak Growth Amid High Uncertainty. Economic Outlook for 2023 and 2024," WIFO Reports on Austria, WIFO, issue 10, July.
    • Handle: RePEc:wfo:repoau:y:2023:i:10
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    File URL: https://www.wifo.ac.at/wwa/pubid/70852
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