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First Increase in Private Consumption in Three Years. Economic Outlook for 2016 and 2017

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  • Marcus Scheiblecker

Abstract

Demand and output in Austria should grow by 1.7 percent in 2016, significantly above the pace recorded for the last four years and closing the growth gap vis-à-vis Germany and the euro area average. While the contribution of net trade is dragging down growth this year, domestic demand is rising substantially. Investment is lively and private households, for the first time in three years, are spending more on consumption in real terms. In 2017, stronger exports should offset some slackening in internal demand, keeping real GDP growth at 1.5 percent.

Suggested Citation

  • Marcus Scheiblecker, 2016. "First Increase in Private Consumption in Three Years. Economic Outlook for 2016 and 2017," WIFO Economic Outlook, WIFO, number 59057, December.
    • Handle: RePEc:wfo:wkprog:59057
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    Cited by:

    1. Josef Baumgartner & Sandra Bilek-Steindl & Serguei Kaniovski & Hans Pitlik, 2016. "Moderate Economic Growth – Unemployment Remaining High. Medium-term Forecast for the Austrian Economy Until 2021," WIFO Bulletin, WIFO, vol. 21(19), pages 185-201, December.
    2. Josef Baumgartner & Serguei Kaniovski, 2017. "Update of the Medium-term Forecast for the Austrian Economy 2017 to 2021," WIFO Bulletin, WIFO, vol. 22(5), pages 43-49, June.
    3. Thomas Url, 2016. "Private Insurance Sector Showing Weak Dynamics in 2015," WIFO Bulletin, WIFO, vol. 21(15), pages 146-155, November.

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    WIFO Economic Outlook;

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