National Bank of Austria - Annual Report 2005

According to the National Bank of Austria's Annual Report 2005, Austria's real GDP grew by 1.9% in 2005, mainly fuelled by strengthened exports and the dynamic development of the industrial sector.

The financial services sector expanded vigorously as well. Factors which favoured economic growth were competitive labor costs, strong economic ties with Central, Eastern and Southeastern European markets and targeted economic policy measures. The average inflation rate in 2005 was 2.1%; toward the

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