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VIENNA, March 24 (Xinhua) -- Two leading Austrian economic institutes on Friday made significant revisions to their 2017 economic growth forecasts, marking an unexpectedly strong improvement for the Austrian economy.
The Austrian Institute of Economic Research (WIFO) and the Institute for Advanced Studies (IHS) are now anticipating respectively the 2017 GDP growth in Austria to reach 2 percent and 1.7 percent, with even further upward potential under favourable conditions.
In its most recent forecast in December, the WIFO had expected 1.5 percent growth for the current year, the IHS 1.4 percent.
In addition, both institutes expect the trend to last till 2018, and possibly even further onward to 2019. Enditem
