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Austria: WIFO and IHS to Adjust Growth Perspectives Downwards
Politics ♦
Published: June 28, 2013; 15:00 ♦ (Vindobona)
Experts at the Austrian Institute for Economic Research (WIFO) and the Institute for Higher Studies (HIS) have significantly cut their prognoses for the growth of domestic economy in 2013. However, both institutes are still optimistic for 2014.
Austria: WIFO and IHS to Adjust Growth Perspectives Downwards / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]
In 2013, according to WIFO and IHS, the Austrian GDP will only grow by 0.4 percent and 0.6 percent respectively in real terms. In March a growth rate of 1.0 percent and 0.8 percent respetively was expected. WIFO and IHS expect a growth rate of 1.6 percent and 1.8 percent while earlier they assumed a growth rate of 1.8 percent in real terms.
A further downer is increasing…
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