Robust Growth For The Austrian Economy

Recent prognoses by the OECD indicate robust growth for the Austrian economy over the next few years. The nation's gross domestic product is projected to rise 3 percent in 1998, although the expected turbulence in Asian markets will slow economic growth to 2.8 percent in 1999. There's also good news for the Austrian labor market: the unemployment rate is projected to fall to 5.5 percent in 1998 and to sink further to 4.8 percent by 1999.

            Gross domestic product         Unemployment rate
            (growth in %)                                (%)
            1998      1999                 1998         1999

USA          2.7       1.9                  4.7          5.0
Japan        1.7       2.1                  3.4          3.3
EU           2.8       2.8                 10.9         10.5
Austria      3.0       2.8                  5.5          4.8

Source: OECD, 1997

Visit Austrian Business Agency's website at Click Contact Link

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.