Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003
The slide on stock markets has shaken confidence of consumers and business world-wide. The business cycle recovery is thereby being delayed. The Austrian economy is projected to grow by barely 1 percent this year, and by over 2 percent in 2003. The slow pace of activity is causing a sharp rise in unemployment and an overrun in budget deficits. The recovery expected for next year is based on the assumption of a consolidation on stock markets and an unwinding of the negative investment cycle.
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Volume (Year): 7 (2002)
Issue (Month): 4 (October)
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