Sluggish Recovery in 2003. Economic Outlook for 2003 and 2004

  • Ewald Walterskirchen

The Austrian economy grew by slightly less than 1 percent in 2002. For 2003, only a gradual recovery of activity should be expected, given the subdued business climate world-wide. GDP growth for Austria, as well as for the euro area, is projected at 1¾ percent, below the medium-term trend.