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The Economy in 1991: Affected by the International Downturn

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  • Fritz Breuss

    (WIFO)

  • et al.

    (WIFO)

Abstract

In 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 Info

Article provided by WIFO in its journal WIFO-Monatsberichte.

Volume (Year): 65 (1992)
Issue (Month): 4 (April)
Pages: 164-208

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Handle: RePEc:wfo:monber:y:1992:i:4:p:164-208

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Related research

Keywords: Österreich im Sog des internationalen Konjunkturabschwungs. Die österreichische Wirtschaft im Jahr 1991; The Economy in 1991: Affected by the International Downturn;

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