Under the impact of sluggish global trade, industrial activity in Austria has moved to a downward trend. On major export markets,
demand for Austrian manufactures nevertheless proves resilient (USA, CEEC). The temporary setback in German motor car production
and its repercussions on Austrian suppliers are gradually subsiding, and the USA-China trade conflict has eased. Moreover,
continued solid demand for services helps sustain overall economic activity. Annual average GDP growth in Austria is expected
to slow from 2.7 percent in 2018 to 1.7 percent in 2019; from the middle of the year, demand and output are set to stabilise,
with growth in 2020 staying around 1.8 percent.
