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Economic Recovery Delayed. Economic Outlook for 2023 to 2025

Author

Listed:
  • Stefan Ederer
  • Stefan Schiman-Vukan

Abstract

The Austrian economy will contract by 0.8 percent in 2023. Lower real incomes as a result of high inflation and global weakness in industry are weighing on economic development. The recovery of industrial production in Austria will be delayed, so that GDP will only grow by 0.9 percent in 2024. GDP growth is expected to reach 2 percent in 2025. Inflation will fall to 4 percent in 2024 and to around 3 percent in 2025. The labour market will deteriorate only temporarily.

Suggested Citation

  • Stefan Ederer & Stefan Schiman-Vukan, 2024. "Economic Recovery Delayed. Economic Outlook for 2023 to 2025," WIFO Reports on Austria, WIFO, issue 1, January.
    • Handle: RePEc:wfo:repoau:y:2024:i:1
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    File URL: https://www.wifo.ac.at/wwa/pubid/71393
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