Aus­trian econ­omy grows steadily

China Daily (Hong Kong) - - BUSINESS -

The Aus­trian econ­omy is on track for steady growth of an av­er­age 1.7 per­cent each year un­til 2021, a lead­ing re­search in­sti­tute said on Wednes­day. In its lat­est medi­umterm prog­no­sis for the econ­omy, the Vi­enna-based In­sti­tute for Ad­vanced Stud­ies said af­ter many years of weak growth, a pos­i­tive start to 2017 would be main­tained go­ing for­ward, al­beit at a slightly lesser rate. The an­tic­i­pated growth rate will put Aus­tria on par with growth ex­pec­ta­tions for the re­main­der of the eu­ro­zone, and be about 1 per­cent higher than av­er­age growth seen be­tween 2012 and 2016, the in­sti­tute said. The im­proved sit­u­a­tion is largely ex­pected to come from a strong in­crease in pri­vate con­sump­tion, as well as an in­crease in de­mand for ex­ports on the back of an im­prove­ment in global trade.

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