The Austrian economy will contract by 0.8 percent in 2023. Lower real incomes as a result of high inflation and global weakness
in industry are weighing on economic development. The recovery of industrial production in Austria will be delayed, so that
GDP will only grow by 0.9 percent in 2024. GDP growth is expected to reach 2 percent in 2025. Inflation will fall to 4 percent
in 2024 and to around 3 percent in 2025. The labour market will deteriorate only temporarily.
