June 29, 2018 / 8:40 AM / 3 months ago

Austrian think-tanks predict economic growth will slow sharply next year

VIENNA (Reuters) - Austria’s two main economic think-tanks expect the country’s economy to lose momentum next year as some trading partners also lose steam and concerns about a trade war lead to slowing investment, they said on Friday.

Wifo, which compiles gross domestic product (GDP) data for the government, confirmed its GDP growth forecast for this year at 3.2 percent but expects growth to slow to 2.2 percent next year.

The other think-tank, IHS, raised its GDP growth forecast for 2018 slightly to 2.9 percent from the 2.8 percent it announced three months ago. IHS, which generally takes a more conservative approach, expects the Austrian economy to grow 1.7 percent in 2019.

Reporting by Kirsti Knolle; Editing by Francois Murphy

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