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Slow Upturn Following Soft Patch in 2012. Medium-term Forecast of the Austrian Economy until 2016

Author

Listed:
  • Stefan Ederer

    (WIFO)

  • Serguei Kaniovski

    (WIFO)

  • Hans Pitlik

    (WIFO)

  • Thomas Url

    (WIFO)

Abstract

The Austrian economy will not regain significant momentum before 2014. During the forecast period from 2012 until 2016 real GDP will grow by 1.6 percent per year on average. Exports will expand by 5.5 percent per year. Imports, by contrast, will increase by only 5.1 percent. The average inflation rate during 2012-2016 will be 2.1 percent. Despite the increase of employment tensions in the labour market will remain, as the labour supply will grow, too. At 7.3 percent the unemployment rate will be considerably higher in the forecast period than before. Moderate and sustainable consolidation and reform measures in the public sector will not dampen economic activity excessively in the medium term.

Suggested Citation

  • Stefan Ederer & Serguei Kaniovski & Hans Pitlik & Thomas Url, 2012. "Slow Upturn Following Soft Patch in 2012. Medium-term Forecast of the Austrian Economy until 2016," Austrian Economic Quarterly, WIFO, vol. 17(1), pages 12-23, February.
  • Handle: RePEc:wfo:wquart:y:2012:i:1:p:12-23
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    References listed on IDEAS

    as
    1. Serguei Kaniovski & Hans Pitlik & Sandra Steindl & Thomas Url, 2008. "A Decomposition of Austria's General Government Budget into Structural and Cyclical Components," WIFO Working Papers 316, WIFO.
    2. Marcus Scheiblecker, 2012. "Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013," WIFO Monatsberichte (monthly reports), WIFO, vol. 85(1), pages 3-15, January.
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