Modest growth after two years of recession

In view of the subdued sentiment indicators in the industrial and construction sectors and the fact that consumer confidence remains in strongly negative territory, we expect economic development to remain weak in 2025 with a growth of +0.2%. In 2026, we anticipate a noticeable increase in economic activity as a result of Germany’s multi-billion euro fiscal packages, which we believe will stimulate exports and subsequently investments in Austria. We expect the Austrian economy to grow by +1.0%.