Austria's economy will grow slightly faster than previously estimated in 2012, the WIFO research institute said Thursday.
Gross domestic product is forecast to grow 0.6 percent this year, instead of 0.4 percent expansion estimated by the institute in March. However, the growth projection for 2013 was lowered to 1.3 percent from 1.4 percent.
The jobless rate is estimated to rise to 7.4 percent in 2013 from this year's forecast of 7.1 percent.
The institute expects inflation to slow in 2012 and next year on easing commodity prices. For 2012, inflation is seen at 2.3 percent, before falling to 1.9 percent in 2013.
by RTT Staff Writer
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