The first half of the 2023/2024 fiscal year (1 October 2023 to 31 March 2024) of Energie AG Oberösterreich (Energie AG) was characterised by moderate economic development due to high interest rates, the fact that inflation only fell slowly and low demand for investment.
Economic growth and inflation
YoY real change (in %)
Sources: IHS, IMF, WIFO
The Institute for Advanced Studies (IHS), the Institute of Economic Research (WIFO) and the International Monetary Fund (IMF) recorded an economic growth of +0.4% (previous year: +3.4%) in the euro zone for the year 2023.
In 2023, economic growth in Austria was negative at -0.8%, whereas it had been at +4.8% in the previous year. The decline was mainly attributable to high inflation, economic stagnation in the euro zone and higher interest rates. In the second half of the reporting period, economic output grew moderately in comparison with the first half. The inflation rate in 2023 was 7.8% (previous year: 8.6%). The domestic economy got off to a slow start in the 2024 calendar year but is expected to return to a moderate growth trajectory in the second half of the year according to economic research institutes due to a friendlier mood in the economy of the euro zone and rising consumer demand from private households.
In the Czech Republic, the pertinent market for Energie AG also saw negative GDP growth of -0.5% in the 2023 calendar year (previous year: +2.4%).