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Few Signs of Business Cycle Recovery

Author

Listed:
  • Markus Marterbauer

    (WIFO)

Abstract

The weakness of domestic demand in Austria and in major trading partner countries is shaping current economic developments. Hopes for a pick-up of activity are based upon a speedier recovery in the USA which is, however, subject to considerable risks. In Austria, equipment investment and imports are receding, and industrial output is slightly below the year-earlier level. Retail sales are almost flat, while exports are rising moderately and a tentative recovery of construction activity has become visible in civil engineering. The adverse trend in overall demand is mirrored by a marked decline in employment, higher unemployment and a fall in tax revenues.

Suggested Citation

  • Markus Marterbauer, 2002. "Few Signs of Business Cycle Recovery," WIFO Monatsberichte (monthly reports), WIFO, vol. 75(12), pages 741-742, December.
    • Handle: RePEc:wfo:monber:y:2002:i:12:p:741-742
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