Consumption Boosting Economic Growth in Austria. Economic Outlook for 2016 and 2017

For the first time in four years, domestic consumption is becoming a main driver of economic growth. Next to the tax reform, which raises private household incomes, expenditure in support of refugees will give a boost to aggregate demand in 2016 and 2017. Annual GDP growth, projected at 1.7 percent respectively, is set to accelerate markedly from the last few years.