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Austrian Economy Buoyant at Year-End 2007 – Current Surveys Indicate Slowdown. Business Cycle Report of February 2008


  • Sandra Steindl



Against the background of a cooling global economy, the Austrian economy continued to grow at a robust pace in the fourth quarter of 2007. General business activity expanded by 0.7 percent in real terms quarter-on-quarter, according to WIFO's latest flash estimates. Export-oriented industrial production was once more the engine of growth, whereas private consumption rose only modestly. Employment followed the buoyant economic activity with the usual lag and posted clear gains in January. For the current quarter, the results of WIFO's business survey suggest a decline in industrial activity; besides, rising consumer prices are dampening consumer confidence.

Suggested Citation

  • Sandra Steindl, 2008. "Austrian Economy Buoyant at Year-End 2007 – Current Surveys Indicate Slowdown. Business Cycle Report of February 2008," Austrian Economic Quarterly, WIFO, vol. 13(1), pages 36-43, April.
  • Handle: RePEc:wfo:wquart:y:2008:i:1:p:36-43

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    References listed on IDEAS

    1. Douglas Sutherland & Robert Price & Isabelle Joumard, 2006. "Sub-central government fiscal rules," OECD Economic Studies, OECD Publishing, vol. 2005(2), pages 141-181.
    2. Zodrow, George R. & Mieszkowski, Peter, 1986. "Pigou, Tiebout, property taxation, and the underprovision of local public goods," Journal of Urban Economics, Elsevier, vol. 19(3), pages 356-370, May.
    3. Wrede, Matthias, 1999. "Tragedy of the Fiscal Common?: Fiscal Stock Externalities in a Leviathan Model of Federalism," Public Choice, Springer, vol. 101(3-4), pages 177-193, December.
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