Weak Momentum of Aggregate Demand
Opinion surveys for the manufacturing sector suggest no significant improvement of the business climate since the end of 2003, neither for Austria nor for the euro area at large. Positive incentives from the boom in Asia and North America have to be set against the dampening impact of euro strength, high raw materials prices and the persistent weakness of internal demand in the euro area. For the Austrian construction sector, firms report continued comfortable order levels in civil engineering, but some slackening for building construction. Consumer confidence and retail sales were moderate early this year. The trend in unemployment remains upward bound.
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Volume (Year): 77 (2004)
Issue (Month): 5 (May)
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