(MENAFN) The Austrian Institute of Economic Research (WIFO) suggested that the previously strong Austrian economy will grow slower this year, with two leading economic research institutes lowering their growth prognoses on Friday.
WIFO has lowered its previous gross domestic product (GDP) growth forecast for this year from 2 percent to 1.7 percent, while the Institute of Advanced Studies (IHS) revised its projection from 1.7 percent to 1.5 percent.
The revised forecasts are due to 2.7 percent GDP growth registered in 2018.
Moreover, downside risks also remain, such as a potential no-deal Brexit, renewed trade disputes between the European Union and the U.S., and the state of the Italian economy.
MENAFN3003201900450000ID1098322111
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.