Global Economic Crisis Striking Severely Also in Austria. Economic Outlook for 2009 and 2010

The global economic crisis leaves deep traces in the EU countries. In Austria, too, GDP will suffer a marked decline by 2.2 percent this year. While exports and investment are falling steeply, consumption will maintain a moderate upward path due to the counter-cyclical policy action taken. The labou...

Ausführliche Beschreibung

Bibliographische Detailangaben
Link(s) zu Dokument(en):WIFO Publikation
Veröffentlicht in:Austrian Economic Quarterly
1. Verfasser: Marcus Scheiblecker
Format: article
Sprache:Englisch
Veröffentlicht: 2009
Schlagworte:
Beschreibung
Zusammenfassung:The global economic crisis leaves deep traces in the EU countries. In Austria, too, GDP will suffer a marked decline by 2.2 percent this year. While exports and investment are falling steeply, consumption will maintain a moderate upward path due to the counter-cyclical policy action taken. The labour market will suffer job losses and a strong increase in unemployment. As a result of the worldwide economic stimulus measures, Austrian GDP should pick up by a modest 0.5 percent in 2010.