Think tanks raise economic growth forecasts for Austria

Austria's two main economic think tanks have raised their forecasts for the country's economic growth this year, saying domestic demand should remain robust and trading partners' economic recovery should revive exports. The Wifo think tank, which compiles gross domestic product (GDP) data for the government, increased its real GDP growth forecast for this year to 2 percent from the 1.5 percent it predicted three months ago.
The other think tank, IHS, raised its forecast for 2017 to 1.7 percent from 1.4 percent. Both groups expect a slowdown in 2018, with Wifo predicting GDP growth of 1.8 percent and IHS putting the figure at 1.5 percent. "The Austrian economy is in an upswing," Wifo said in its quarterly economic forecast published on Friday.