Austrian Economy Buoyant at Year-End 2007 – Current Surveys Indicate Slowdown. Business Cycle Report of February 2008
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.
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Volume (Year): 13 (2008)
Issue (Month): 1 (April)
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