The mood in the domestic economy continued to deteriorate slightly in June. Bank Austria’s economic indicator fell to minus 0.2 points after minus 0.1 points in May. This is the lowest level since January 2021, said Bank Austria chief economist Stefan Bruckbauer yesterday.
The barometer was weighed down by a poorer mood among service providers such as hairdressers or masseurs – the industry that had benefited most from opening steps at the beginning of the year. According to Bank Austria, the situation in industry has improved compared to May.
For this year, the institute expects real economic growth of 4.4 percent in Austria and 1.5 percent for 2023. Average inflation is likely to be 6.8 and 2.7 percent respectively.
Source: Nachrichten
