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

Author

Listed:
  • Marcus Scheiblecker

    (WIFO)

  • Ewald Walterskirchen

    (WIFO)

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.

Suggested Citation

  • Marcus Scheiblecker & Ewald Walterskirchen, 2007. "Growth Accelerating in the First Quarter of 2007. Business Cycle Report of May 2007," Austrian Economic Quarterly, WIFO, vol. 12(2), pages 92-99, June.
  • Handle: RePEc:wfo:wquart:y:2007:i:2:p:92-99
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