Austria is in a sense an entrepôt economy. It's at the centre of trade in Eastern Europe, bordering Germany, Italy, Czechia, Switzerland and Slovakia, and close to Poland, and its economy closely parallels the pan-Europe economy. The rebound in the PMI over the last few months is much more obvious in Austria than in Europe, which suggests to me that Europe is at last moving towards economic recovery.
What will happen with Trump throwing a spanner into the works with his sharp tariff increases is hard to tell. But a jump in tariffs on imports from Europe into the USA will slow growth, and the response of governments and the ECB will be to roll out stimulatory measures to offset that.
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