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Purchasing Power Increases After Mild Recession. Economic Outlook for 2023 and 2024
WIFO Reports on Austria, 2023, (16), 14 pages
Online since: 13.11.2023 0:00
Subdued purchasing power, high energy prices and sharp interest rate increases lead to a mild recession in Austria in 2023; real GDP is expected to contract by 0.8 percent. In 2024, strong real income growth and a pick-up in world trade will ensure an economic recovery (real GDP +1.2 percent). In construction, however, the recession will intensify.
JEL-Codes:E32, E66
Keywords:Business cycle, economic outlook, forecast
Research group:Macroeconomics and Public Finance

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