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Strong Economic Upswing in Austria. Economic Outlook for 2021 and 2022
WIFO Reports on Austria, 2021, (8), 14 pages
Online since: 30.07.2021 0:00
The global economic outlook has improved significantly since the last forecast. This also has consequences for the expected recovery in Austria. Leading indicators point to the beginning of a boom phase, which in 2021 will be mainly driven by the favourable industrial economy. In 2022, tourism will contribute disproportionately to domestic economic growth. After the decline in the previous year (–6.3 percent), WIFO expects real GDP growth of 4 and 5 percent for 2021 and 2022, respectively.
JEL-Codes:E32, E66
Keywords:Business cycle, economic outlook, forecast
Research group:Macroeconomics and European Economic Policy
Language:English

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