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Austrian Economy Barely Grew in Third Quarter

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Author Info
Sandra Steindl (WIFO)

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Abstract

Austria's real GDP grew at a seasonally and working day adjusted quarterly rate of 0.1 percent in the third quarter of 2008 (after +0.3 percent in the second quarter). Compared with the same period last year, the growth rate was 1.5 percent (second quarter +2.2 percent). Notably the export-driven manufacturing sector has been experiencing a marked slowdown on the back of the global downturn. While activity in the construction sector has also begun to slacken, tourism is still providing a stimulus. Leading indicators suggest that the downturn in the industrial sector is likely to accelerate in the fourth quarter.

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Publisher Info
Article provided by WIFO in its journal WIFO-Monatsberichte.

Volume (Year): 81 (2008)
Issue (Month): 11 (November)
Pages: 803-811
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Handle: RePEc:wfo:monber:y:2008:i:11:p:803-811

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Postal: Austrian Institute of Economic Research c/o Christine Kautz P.O. Box 91 A-1103 Vienna/Austria
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Related research
Keywords: Konjunkturbericht Österreich;

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