According to analysts at ING, Austria’s economy lost momentum during the course of 2019 given the challenging global environment.
Key Quotes
“Overall, however, the economy remains on a solid although slower growth path, with domestic consumption and construction serving as growth drivers.”
“Austria’s peak years have come to an end as economic sentiment deteriorates and the industry is stuttering. Nevertheless, the labour market has improved markedly, with growing wages fuelling robust domestic competition. Austria’s inflation rally has eased up, and with an improved fiscal situation, overall lending conditions remain favourable.”
“The Austrian People’s party scored better in 2019 than they did in 2017 but they still lack a coalition partner. While climate change is becoming more important throughout the EU, the majority of Austrians are still optimistic about the future of the EU.”
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