Slackening Global Economic Activity Dampens Growth Prospects for Austria. Economic Outlook for 2019 and 2020

The Austrian economy has entered a period of moderate growth. The strong momentum enjoyed over the last few years has eased, and firms are looking with less optimism into the future. While foreign trade has a restraining impact on output growth, domestic demand keeps supporting activity. Annual GDP growth in Austria is expected to decelerate from 2.7 percent in 2018 to 1.7 percent in the current year, stabilising at a rate of 1.5 percent in 2020.