WIFO: Austrian Economy to Grow Slowly

BusinessEconomy ♦ Published: January 25, 2013; 19:29 ♦ (Vindobona)

In the next years, Austria´s economy will recover gradually, the Austrian Institute of Economic Research says.

WIFO: Austrian Economy to Grow Slowly / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]

In the next years, Austria will not face a recession, WIFO reports. After a small economic growth rate of 0.6% last year, the GDP is expected to increase by 1.0% this year. In the consecutive years, the average economic growth rate is expected to come at 1.8%. However, GDP growth will never be higher than 2.0%, the research institute said.

Besides that, the unemployment quota…