Country snapshots 2017-18: Austria

Solid job creation

After four years of disappointing growth, economic activity picked up in 2016. It has been supported by a fiscal reform that boosted household disposable income, a catch-up of investment and solid job creation, especially among elderly, women and immigrants. These factors will continue to support growth in 2017 and, to a lesser extent, in 2018.

Easing restrictive entry regulations in retail trade and liberal professions would improve labour market prospects, including for migrants, and intensify competition, innovation and growth. Further consolidation of banks would improve cost efficiency, but care would have to be taken to avoid reductions in competition and the creation of institutions that are too big to fail.

GDP growth

2013

Current prices EUR billion

2016

 

2017

% real change

2018

  

322.4 1.5 1.5 1.3

Visit www.oecd.org/eco/economicoutlook.htm

©OECD Observer No 308 Q4 2016




Economic data

GDP growth: +0.5% Q2 2019 year-on-year
Consumer price inflation: 1.6% September 2019 annual
Trade: -1.9% exp, -0.9% imp, Q2 2019
Unemployment: 5.1% August 2019
Last update: 6 November 2019

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