Exports Driving Activity. Economic Outlook for 2004 and 2005
The improvement of global business conditions is stimulating activity also in Europe in 2004. Driven by strong export growth, GDP in Austria is expected to grow by 1.9 percent, at the same pace as in the euro area. In 2005, while growth of world trade is set to lose momentum, domestic demand should provide a larger contribution to growth in Europe. Under the positive impact of tax cuts, Austrian GDP growth is expected to accelerate to 2.5 percent in 2005. However, the high oil prices constitute a risk for the short-term outlook.
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Volume (Year): 9 (2004)
Issue (Month): 4 (November)
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