Forecast of the Austrian Economy 2024–2028

As the external economic environment improves and the effects of the inflation shock come to an end, the Austrian economy is likely to return to a subdued growth trajectory.

For the forecast period 2024 to 2028, IHS expects real GDP to increase by an average of 1.0 % per year. Growth will be driven by domestic demand, while the expansion of exports is likely to remain weak. Following the record levels reached in the previous years, the inflation rate (as measured by the domestic consumer price index) should fall rapidly and is expected to reach 2.2 % at the end of the forecast period. The unemployment rate is forecasted to fall from 6.9 % this year to 5.8 % in 2028. Given the subdued medium-term growth prospects, economic policy in Austria should focus on strengthening potential growth and ensuring the sustainability of public finances.

IHS economic forecast

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