Macro - Country Economic Forecasts - Austria
Economic activity in Austria remained weaker than we anticipated in recent months and heavy floods in September presented an additional drag. Consequently, we now expect flat quarterly growth for Q3. But risks are skewed to the downside as industrial production continues to suffer from weak external and domestic demand. We think GDP will contract by 0.5% this year before expanding by 1.1% in 2025, on the back of recovering consumption, a pickup in external demand, and stronger investment as monetary policy becomes less restrictive.
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