{"id":1677268,"date":"2022-10-07T05:05:59","date_gmt":"2022-10-07T09:05:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1677268"},"modified":"2022-10-07T05:07:10","modified_gmt":"2022-10-07T09:07:10","slug":"austrias-wifo-slashes-2023-gdp-forecast-warns-of-stagflation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/austrias-wifo-slashes-2023-gdp-forecast-warns-of-stagflation\/","title":{"rendered":"Austria\u2019s WIFO slashes 2023 GDP forecast, warns of stagflation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faustrias-wifo-slashes-2023-gdp-forecast-warns-of-stagflation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1677268&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>BERLIN (Reuters) \u2013     Austria\u2019s WIFO institute slashed its 2023 forecast on Friday, saying record inflation rates resulting from the war in Ukraine are steering the economy towards stagflation.<\/p>\n<p>Austrian gross domestic product is expected to grow by 0.2% in real terms in 2023, WIFO said, slashing its June prediction of 1.6% growth.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>With inflation remaining high in 2023, Austria\u2019s economy is heading for stagflation for the first time since the 1970s, said the think tank in its statement.<\/p>\n<p>Inflation, driven by high energy prices, is likely to come in over 8% this year and between 6.5% and 6.8% next year, according to WIFO as well as the HIS institute.<\/p>\n<p>IHS similarly cut its forecast for next year and now expects growth of 0.3% compared with an earlier 1.4%. <\/p>\n<p>Both institutes raised their 2022 forecasts, citing a strong first half that was still enjoying the effects of lifted pandemic restrictions: The IHS now sees GDP growth of 4.7%, up from 3.8%, while WIFO raised its forecast to 4.8% from 4.3%.<\/p>\n<p> (Writing by Miranda Murray, editing by Rachel More)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/austrias-wifo-slashes-2023\/attachment\/workers-are-pictured-at-a-construction-site-in-vienna\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI960FH-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI960FH-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BERLIN (Reuters) \u2013 Austria\u2019s WIFO institute slashed its 2023 forecast on Friday, saying record inflation rates resulting from the war in Ukraine are steering the economy towards stagflation. Austrian gross<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1677268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1677268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1677268"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1677268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1677268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1677268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1677268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}