Boom Continuing Amid Rising Risks

According to WIFO's latest flash estimates, the Austrian economy grew by 1 percent quarter-on-quarter or 3.8 percent year-on-year in the second quarter. Hence, the growth momentum was even stronger than in the first quarter. Goods exports and investment remain the key driving factors of the economic upswing. In contrast, private consumption shows hardly any signs of a pickup. Financial market turbulences point to heightened risks for the second half of the year.