March 29, 2019 / 9:32 AM / a month ago

Austrian think-tanks cut 2019 growth forecasts

BERLIN, March 29 (Reuters) - Austria’s two main economic think-tanks cut their economic growth forecasts for 2019, saying international trade conflicts were weighing on economic growth.

Wifo, which compiles economic data for the government, said on Friday it now saw growth slowing to 1.7 percent this year, compared with the 2 percent it forecast in December. In 2020, it expects growth of around 1.8 percent.

The think-tank also cut its 2019 inflation forecast to 1.7 percent from 2.1 percent.

The IHS think-tank, which generally takes a more conservative approach, also revised down its 2019 growth forecast, to 1.5 percent from 1.6 percent, giving as reasons the risk of a disorderly Brexit, the possibility of trade conflicts worsening, and the global economic environment. (Reporting by Riham Alkousaa Editing by Tassilo Hummel and Thomas Escritt)

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