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Growth Accelerating in the First Quarter of 2007. Business Cycle Report of May 2007

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Author Info
Marcus Scheiblecker (WIFO)
Ewald Walterskirchen (WIFO)

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Abstract

Economic growth in Austria accelerated in the first quarter of 2007 despite the impact of the value added tax increase in Germany. Real GDP growth was 0.8 percent quarter-on-quarter and 3.2 percent year-on-year. Goods exports and investment are the main pillars of the economic upturn. Business sentiment among manufacturers is currently as optimistic as last recorded in 2000, a boom year. Retail trade also showed signs of a revival, but weak car sales and lower fuel consumption held down the result for private consumption.

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Publisher Info
Article provided by WIFO in its journal Quarterly.

Volume (Year): 12 (2007)
Issue (Month): 2 (June)
Pages: 92-99
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Handle: RePEc:wfo:wquart:y:2007:i:2:p:92-99

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