Deep, But Short Recession in Austria. Economic Outlook for 2020 and 2021
The measures adopted to contain the COVID-19 pandemic give rise to a recession in Austria. With a slump by 7.0 percent year-on-year, demand and output will contract even more sharply in 2020 than during the economic and financial market crisis of 2008-09. Since the trough now appears to have been pa...Link(s) zu Dokument(en): | WIFO Publikation |
---|---|
Veröffentlicht in: | WIFO Bulletin |
1. Verfasser: | |
Format: | article |
Sprache: | Englisch |
Veröffentlicht: |
2020
|
Zusammenfassung: | The measures adopted to contain the COVID-19 pandemic give rise to a recession in Austria. With a slump by 7.0 percent year-on-year, demand and output will contract even more sharply in 2020 than during the economic and financial market crisis of 2008-09. Since the trough now appears to have been passed, the recession promises to be short. Nevertheless, GDP will still not be back to its pre-crisis level by the end of the projection horizon (end of 2021). |
---|