Recent prognoses by the OECD indicate robust growth for the Austrian economy over the next few years. The nation's gross domestic product is projected to rise 3 percent in 1998, although the expected turbulence in Asian markets will slow economic growth to 2.8 percent in 1999. There's also good news for the Austrian labor market: the unemployment rate is projected to fall to 5.5 percent in 1998 and to sink further to 4.8 percent by 1999. 

            Gross domestic product         Unemployment rate
            (growth in %)                                (%)
            1998      1999                 1998         1999

USA          2.7       1.9                  4.7          5.0
Japan        1.7       2.1                  3.4          3.3
EU           2.8       2.8                 10.9         10.5
Austria      3.0       2.8                  5.5          4.8

Source: OECD, 1997

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