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

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  • Marcus Scheiblecker

    (WIFO)

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    Abstract

    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.

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    Bibliographic Info

    Article provided by WIFO in its journal Quarterly.

    Volume (Year): 14 (2009)
    Issue (Month): 2 (April)
    Pages: 81-90

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    Handle: RePEc:wfo:wquart:y:2009:i:2:p:81-90

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    Keywords: Economic Outlook; Austria;

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