Macro - Country Economic Forecasts - Austria

Macro - Country Economic Forecasts - Austria

We have cut our near-term growth forecast for Austria due to impact of Russia's invasion of Ukraine. Supply chains were just beginning to recover prior to the attack but headwinds are now intensifying. We expect a large hit to trade, a direct hit from trade with Russia and Ukraine, amplified by closely integrated European value-chains and the impact of sanctions. And we also expect softer private consumption as households face higher inflation and sentiment turns more cautious. Overall, we now expect GDP growth of 2.7% in 2022, down from 3.2% seen last month.

Untitled Chapter
Forecast overview
Recent developments
Short-term growth outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Economic development
Structure of the economy
Balance of payments and structure of trade

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