Austrian economy to grow 2.7 pct in 2018: central bank

Source: Xinhua| 2018-12-14 22:40:50|Editor: Mu Xuequan
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VIENNA, Dec. 14 (Xinhua) -- The Austrian economy will see robust growth of 2.7 percent this year, before ending a growth boom, the National Bank of Austria said on Friday.

Following years of robust growth, the economy will now settle into a more stable growth phase marked by more average growth rates, the central bank said in its latest forecast.

While the current year is expected to match the strong growth rate seen in 2017, the central bank expected growth between 2019 and 2021 to drop to two percent, 1.9 percent, and 1.7 percent respectively.

Although the number of potential downsides to the economy have increased since its most recent forecast, the bank believes the strong growth of the past several years has the economy in good stead to withstand shocks.

It noted that strong domestic demand and a good export market are continuing to be the main pillars of economic growth in the country.