Austria’s economy is projected to grow 1 percent next year and 1.8 percent in 2014, the state-supported Wifo research institute said.
“The perspectives for the Austrian economy have improved slightly compared to our forecast from September,” Wifo said in an e-mailed statement today, adding that the estimate is “still affected by a high degree of uncertainty” due to the sovereign-debt crisis in the euro area.
Wifo today released its first forecast for 2014. Its estimates for economic growth of 0.6 percent this year and 1 percent in 2013 are in line with the institute’s September forecast.
“The Austrian economy may have stagnated in the second half of 2012,” Wifo said in the statement. At the same time, “there’s a reasonable expectation for this period of weakness to be over soon” and for the Austrian economy to “return to a growth path.”