VIENNA (Reuters) - Austria’s two main economic think tanks on Thursday raised their forecasts for the country’s economic growth this year and next, pointing to robust domestic demand and a recovery in foreign markets that should lift exports.
The Wifo think tank, which compiles economic data for the government, raised its real gross domestic product (GDP) forecast for this year to 2.4 percent from its previous quarterly prediction of 2.0 percent published in March.
The other think tank, IHS, increased its forecast for 2017 to 2.2 percent from 1.7 percent.
Wifo was also more optimistic for 2018, predicting GDP growth of 2.0 percent while IHS forecast 1.7 percent.
“Economic growth in Austria is accelerating sharply, supported by the revival of the global economy,” IHS said in a statement.
Reporting by Francois Murphy; Eidting by Kirsti Knolle