Austrian economy grows steadily
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.