Country Economic Forecasts - Austria
Austrian industry had a surprisingly strong start to the year and there are also encouraging signs from the labour market pointing to robust consumption dynamics. So we still think that GDP will rise at a stable rate of 0.3% q/q in Q1 2019. But surveys – especially for the exporting industrial sector – continue to point to near-term weakness as uncertainty and external headwinds weigh on confidence and are not seen receding until later this year. However, we retain our 2019 and 2020 GDP forecasts at 1.5% and 2.0% respectively.