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Cyclical Boom to Continue – Substantial Improvement on the Labour Market. Economic Outlook for 2007 and 2008

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  • Marcus Scheiblecker

    (WIFO)

Abstract

The Austrian economy will continue to grow strongly this year. After an increase of 3.2 percent in 2006, GDP is expected to expand by 3 percent in real terms in 2007, with accelerating investment offsetting the gradual slowdown of export growth. Private consumption is picking up, though not by as much as in previous cyclical episodes. Lively demand and output growth have a strong positive impact on the labour market, with employment growing swiftly, accompanied by a decline in unemployment. In 2008, growth is expected to gradually tail off.

Suggested Citation

  • Marcus Scheiblecker, 2007. "Cyclical Boom to Continue – Substantial Improvement on the Labour Market. Economic Outlook for 2007 and 2008," Austrian Economic Quarterly, WIFO, vol. 12(2), pages 83-91, May.
  • Handle: RePEc:wfo:wquart:y:2007:i:2:p:83-91
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