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Strong Stimulus from World Trade Fuelling Economic Activity in Austria. Economic Outlook for 2017 and 2018

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  • Stefan Schiman-Vukan

Abstract

The acceleration of world trade growth originating from East Asia has reached Austria in 2017. In addition, exports benefitted from clearing the investment backlog in East-Central Europe. While the external stimulus may ease somewhat in 2018, private consumption will continue to provide firm support to business activity. In spite of GDP growth projected at a solid 2.4 percent in 2017 (+2.6 percent when adjusted for calendar effects) and 2.0 percent in 2018, unemployment will likely remain rather high, as many vacancies are not filled by domestic jobseekers. The general government deficit narrows markedly in the current year, even if the fiscal stance on the revenue side remains expansionary.

Suggested Citation

  • Stefan Schiman-Vukan, 2017. "Strong Stimulus from World Trade Fuelling Economic Activity in Austria. Economic Outlook for 2017 and 2018," WIFO Bulletin, WIFO, vol. 22(9), pages 82-94, July.
    • Handle: RePEc:wfo:wblltn:y:2017:i:9:p:82-94
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