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Economic Outlook 2021-2022

Our economic outlook for the next two years is based on a significant easing of the pandemic from mid-2021. After the sharp decline in GDP by 7.5 percent in 2020, the Austrian economy will be able to achieve economic growth of 3.1 percent in 2021 and as much as 5.2 percent in 2022 with the recovery that will begin in the spring. In mid-2022, it could thus reach the level of 2019.

The presentation of the current economic outlook can be found on the right under downloads.

As of November 2020.


Austria Up-to-date

The information provided by Bank Austria in our publication “Austria Up-to-date” includes current economic forecasts and the most recent data for key indicators, in some cases in the form of charts. The key indicators are supplemented by regular comments, and their impact on the forecast is analysed in this report.

In the current issue you will find:

  • Recovery from the 2nd half of 2021 is in sight
  • GDP slump of more than 7% in Corona-year 2020
  • Rise in unemployment in the lockdown winter - with the recovery in 2021, the labor market will slowly ease
  • Inflationin 2020 stable at 1.5% - inflation on the rise from spring, but moderate 
  • Deficit expected to exceed 10% in 2020 - debt rises to 88% of GDP

As of January 2021.

Focus Austria

"Focus Austria" - Review and outlook in times of the "corona crisis" offers a comprehensive analysis of the economic trends in Austria with special consideration of structural conditions. The publication provides an overview of the past year and offers an outlook on the developments expected in the current year and the following year. In addition to the current economic situation, the Austrian business location is assessed.

As of October 2020.