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Forecasts of key economic indicators for Austria
OeNB
WIFO
IHS
OECD
IMF
European commission
March 2024 and December 2023
March 2024
March 2024
May 2024
April 2024
February 2024 und November 2023
2024
2025
2026
2024
2025
2024
2025
2024
2025
2024
2025
2024
2025
Key results
Annual change in %
Real GDP
4
5
0.5
1.8
x
0.2
1.8
0.5
1.5
0.2
1.5
0.4
1.6
0.6
1.4
Real private consumption
1.5
1.8
1.2
1.2
2.1
1.4
1.6
0.9
1.9
x
x
1.1
1.5
Real government consumption
0.3
0.8
1.1
0.3
0.8
0.0
0.3
0.1
0.8
x
x
0.8
0.3
Real gross fixed capital formation
-0.2
2.9
2.3
-2.0
2.2
-0.8
1.9
-0.4
1.2
x
x
0.1
0.9
Real exports
1.5
2.2
2.6
1.2
3.3
1.6
2.3
2.6
2.7
1.8
3.0
2.6
3.2
Real imports
2.2
2.6
3.0
1.6
3.5
1.9
2.5
3.5
2.8
1.8
3.5
2.3
3.0
Labour productivity
1
0.1
0.7
0.3
0.6
0.6
0.2
1.0
0.3
1.3
x
x
0.4
0.6
GDP deflator
4.0
3.5
2.7
4.4
2.6
4.0
2.5
4.3
2.8
3.9
2.7
4.0
3.5
CPI
x
x
x
3.8
2.7
3.5
2.6
x
x
x
x
x
x
HICP
4
5
3.6
2.7
x
3.8
2.7
3.6
2.6
3.7
2.9
3,9
2.8
4.0
3.0
Unit labor costs
7.4
3.6
2.6
8.0
3.3
7.3
2.8
6.7
2.5
x
x
6.6
3.2
Payroll employment
2
0.5
1.0
1.0
0.4
1.1
0.3
0.5
0.1
0.3
0.0
0.5
0.6
0.7
in % of labour force, Eurostat definition
Unemployment rate
5.5
5.3
5.2
5.5
5.4
5.3
5.2
5.5
5.4
5.4
5.2
5.4
5.3
% of nominal GDP
Current account
2.1
2.3
2.3
2.4
2.4
x
x
2.3
2.1
2.1
2.1
0.9
1.2
General government
surplus/deficit
-2.7
-2.8
-2.8
-2.9
-2.7
-2.2
-2.1
-2.8
-2.7
-2.6
-2.3
-2.4
-2.2
General government debt
76.4
75.6
75.5
76.5
76.7
x
x
77.7
78.1
75.4
75.4
75.6
74.8
Conditioning assumptions
Oil price in USD/barrel
4
80.1
76.5
73.6
80.0
75.0
81.2
75.7
84.6
85.0
78.6
73.7
78.5
74.7
Short-term interest rate in %
4
3.6
2.8
2.7
3.8
3.1
3.7
2.8
3.7
2.8
3.5
2.6
3.2
2.2
USD/EUR
4
1.08
1.08
1.08
1.08
1.08
1.08
1.08
1.08
1.08
1.08
1.07
1.09
1.09
Annual change in %
Euroarea: Real GDP
4
0.8
1.5
1.5
0.7
1.7
0.7
1.4
0.7
1.5
0.8
1.5
0.8
1.5
USA: Real GDP
4
1.7
1.5
1.7
2.3
1.5
2.0
1.7
2.6
1.8
2.7
1.9
2.1
1.8
World: Real GDP
4
2.8
3.0
3.0
x
x
2.7
2.9
3.1
3.2
3.2
3.2
3.3
3.5
World trade
3
4
2.7
3.0
3.1
x
x
1.3
2.5
2.3
3.3
3.0
3.3
3.5
3.7
Source:
OeNB
,
WIFO
,
IHS
.
1
OeNB and WIFO: hourly productivity of labour; IHS: labour productivity per employee.
2
WIFO and IHS: Employment adjusted for persons on parental leave, in compulsory military training or undergoing training under a program of the Public Employment Service.
3
IHS: goods following CPB. European commission: worldimports.
4
European Commission: Interim Forecast (February 2024)
5
OeNB: Interim Forecast (March 2024).
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Last update on 03.05.2024 00:00
