The Economy in 1991: Affected by the International Downturn
AbstractIn 1991, repercussions of stagnation abroad were increasingly felt in Austria while the stimulus from German unification was wearing off. Real GDP rose by 3 percent, markedly less than the 4½ percent registered in 1990. The downswing was cushioned by stable domestic demand (particularly for construction investment) and booming tourism. The positive growth differential vis-à-vis the trading partners lead to a deterioration in the current account balance. Price inflation remained moderate and the rise in unemployment was checked by a ceiling introduced on the number of immigrant workers.
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Bibliographic InfoArticle provided by WIFO in its journal WIFO-Monatsberichte.
Volume (Year): 65 (1992)
Issue (Month): 4 (April)
Postal: Austrian Institute of Economic Research Publikationsverkauf und Abonnentenbetreuung Arsenal, Objekt 20 A-1030 Vienna/Austria
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