Wifo and IHS present their summer forecast for economic development in 2023 and 2024 on Wednesday. In the most recent forecast in March, economic researchers assumed that the domestic economy was still growing and that inflation would remain high at just over seven percent. In May, Wifo boss Gabriel Felbermayr had already admitted that inflation in 2023 would probably be even higher than expected in March.
The experts are particularly concerned that inflation in Austria is significantly higher than in the rest of the EU. This has a negative impact on the country’s competitiveness. On the other hand, Wifo and IHS saw little reason to worry about the labor market in March; unemployment is likely to remain stable. Most recently, IHS interim manager Klaus Neusser has already let journalists know that there should not be any significant deterioration here. For Neusser, Wednesday is the last public appearance in this function, since Holger Bonin will take over the management of the IHS on July 1st.