Cloudy economy is only slowly brightening

For now, the recession still has Austria under control. However, the economists at UniCredit Bank Austria are seeing initial easing and are cautiously optimistic about 2024 and 2025. Gross domestic product is likely to shrink by 0.5 percent this year. They forecast slight economic growth of 0.3 percent for the coming year, followed by an increase of 1.5 percent in 2025. Inflation is expected to almost halve from 7.8 percent this year to 3.6 perc…