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2021/10/11 / Erste Group Research

Austria: strong recovery despite uncertainties

At the end of September, Statistics Austria published a significant downward revision of historical data for Austrian economic growth. GDP growth was revised downward for each quarter of 2020, resulting in a significant deterioration of the estimate for 2020 as a whole from -6.2% to -6.7%. At the same time, GDP growth in 2Q21 was revised upward from +12.0% to +12.8%. Exports and gross fixed capital formation performed particularly strongly.

Against the backdrop of revisions to historical data and 2Q21 GDP, we have revised our forecasts upward for both 2021 and 2022. We now expect GDP growth of +4.4% in 2021 (previously +3.8%) and a slight acceleration to +4.6% in 2022 (previously +4.3%).

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General information

AuthorErste Group Research
Product nameShort Notes Major Markets
Topic in focusMacro/ Fixed income
Economy in focusAustria
Currency in focusEuro
Sector in focus-


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