Recovery Subject to Significant Uncertainty. Economic Outlook for 2014 and 2015

Short-term prospects for the Austrian economy have little changed since the last revision of the WIFO forecast three months ago. Output in the first quarter 2014 grew as expected, albeit somewhat less than in the fourth quarter 2013. Latest leading indicators have been slightly less strong than anticipated. After a modest gain of 0.3 percent in 2013, growth of real GDP is projected to strengthen to 1.4 percent in 2014 and 1.7 percent in 2015.