AUSTRIA: MORE POSITIVE FORECAST FROM OECD

Article Abstract:

The OECD has revised upwards its forecast for Austria's economic development in year 2000. It now predicts a gross domestic product growth of 2.9% rather than 2.6% for 2000, compared with 2.2% in 1999. The forecast for 2001 is 2.5%. The upwards revision is explained with keen export demand and private consumption. The latter is forecast to grow 2% in 1999, 2.5% in 2000 and 2.3% in 2001. Export growth is forecast at 2.9%, 6.2% and 6.4%, respectively, while imports should grow 3.0%, 5.7% and 6.5%. Current account deficit is estimated at 2.6% of GDP in 1999, 2.8% in 2000 and 2.9% in 2001. Industrial investment is expected to pick up. Inflation rate is estimated at 0.7% in 1999, 1.2% in 2000 and 1.3% in 2001. Unemployment rate is forecast at 6.3%, 5.8% and 5.4%, respectively. The organisation estimates Austria's public deficit in 1999 at 2.1% of GDP, in 2000 at 2.5% and in 2001 at 2.2%.

Public Finance Activities, Forecasts, trends, outlooks, National Government Liabilities & Debt, Public Debt, National debt

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AUSTRIA: IHS SEES STRONGER GDP GROWTH TO 2004

Article Abstract:

The economic research institute IHS predicts Austria's gross domestic product to grow at an annual rate of 2.8% in the 2000-2004 period. In the second half of the 1990s the growth rate was 2%. The growth of private consumption is forecast to accelerate from 2% to 2.3% per year. Export growth is expected to remain high, at 6.9% per year, while import growth is estimated at at 5.8% (unchanged). Due to keen export demand and a positive outlook in tourism, current account deficit is forecast to fall from Sch 74.5bn in 1999 to Sch 31.3bn in 2004. Inflation rate is predicted to rise from 1.2% to 1.6%. The rate of unemployment is likely to fall by more than 1-1.5%-points. Investment in plant and equipment is forecast to grow at an annual rate of 6.3%, while the growth of construction spending is likely to remain at 1.4% per year.

Construction, Capital expenditures, Gross Domestic Investment, Gross Capital Formation

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AUSTRIA: ECONOMIC FORECASTS REVISED DOWNWARDS

Article Abstract:

The economic research institute IHS and Wifo have revised downwards their forecasts for Austria's economic development. They now predict the country's gross domestic product to grow 2.3% (IHS) and 2.2% (Wifo) in 2001 and 2.5%/2.1% in 2002. IHS thus revised its forecast down by 0.2%-points for 2001 and Wifo by 0.4%-points for 2001 and 0.7%-points for 2002. Austria's GDP growth rate rose from 2.8% in 1999 to 3.2% in 2000. Consumer price inflation is forecast at 1.9%/1.7% in 2001 and 1.4%/1.3% in 2002, compared with 2.3% in 2000. Private consumption is expected to grow 1.9%/2% in 2001 and 2.1%/2% in 2002, compared with 2.7% in 2000. The forecasts for unemployment rate are 5.6%/5.4% in 2001 and 5.4%/5.5% in 2002, compared with 5.8% in 2000.

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