29.07.2019


Survey: Austrians “bullish” about the economy

  • 36% of Austrians believe the economy is set to grow
  • Loans: Amounts rose on average by 10%
  • 26% intend to invest in securities

Optimism about economic growth

According to a study by INTEGRAL conducted on behalf of Erste Bank, optimism is the buzzword. In response to the question of how the economy will do this year, 44% expect around the same rate of expansion as in the preceding year and 36% believe the economy will grow even more robustly this year. Only 17% expect the economy to slow slightly compared to 2018. Analysts at Erste Bank expect the growth rate of GDP to slow down to robust 1.7% in 2019. In the preceding year, GDP was 2.7%. This slowdown in economic growth in Austria is in line with the slowing pace of the global economy. Tax reliefs and higher wage growth will increase disposal income and will support private consumption. “However, Austrians should set aside funds for old age, for example, in an investment fund savings plan,” said Thomas Schaufler, Retail CEO of Erste Bank.

According to a study by INTEGRAL conducted on behalf of Erste Bank, optimism is the buzzword. In response to the question of how the economy will do this year, 44% expect around the same rate of expansion as in the preceding year and 36% believe the economy will grow even more robustly this year. Only 17% expect the economy to slow slightly compared to 2018. Analysts at Erste Bank expect the growth rate of GDP to slow down to robust 1.7% in 2019. In the preceding year, GDP was 2.7%. This slowdown in economic growth in Austria is in line with the slowing pace of the global economy. Tax reliefs and higher wage growth will increase disposal income and will support private consumption. “However, Austrians should set aside funds for old age, for example, in an investment fund savings plan,” said Thomas Schaufler, Retail CEO of Erste Bank.