Austria's economy is presently growing at its fastest rate in seven years, with the positive momentum to persist through the first half of 2018, a leading economic institute has stated.
In its December economic report released on Tuesday, the Austrian Institute of Economic Research (WIFO) said Austria was benefiting from a global upswing, also taking place in the remainder of the eurozone.
The domestic economy grew 0.9 percent year-over-year in the third quarter. Local companies have seen an improvement in their situation, giving them a very positive future outlook.
The employment situation has continued to improve, with the jobless figures down 0.8 percent in November to reach 8.2 percent. The number of available jobs also saw a notable 2.3-percent improvement over the same month in 2016.
Unemployment, however, is still notably higher than it was in the years before the financial crisis, WIFO noted.
Latest comments