International Downturn Weighing on Economic Activity in Austria. Business Cycle Report of September 2008
In the context of the global economic slowdown, the Austrian economy has also begun to lose momentum. Following a deceleration in the pace of economic expansion in Austria already in the second quarter compared with previous quarters (+0.4 percent in real terms quarter-on-quarter), evidence presented in the latest WIFO business survey points to a further slackening of manufacturing activity. The surplus of companies assessing their order book levels as insufficient has increased further, and recent outlooks for future developments of the economic situation have deteriorated noticeably. Positive stimulus is being provided by the construction sector, currently a solid pillar of the economy.
Volume (Year): 13 (2008)
Issue (Month): 3 (October)
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