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Global Economic Crisis Striking Severely Also in Austria. Economic Outlook for 2009 and 2010

  • Marcus Scheiblecker

    (WIFO)

The global economic crisis leaves deep traces in the EU countries. In Austria, too, GDP will suffer a marked decline by 2.2 percent this year. While exports and investment are falling steeply, consumption will maintain a moderate upward path due to the counter-cyclical policy action taken. The labour market will suffer job losses and a strong increase in unemployment. As a result of the worldwide economic stimulus measures, Austrian GDP should pick up by a modest 0.5 percent in 2010.

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Article provided by WIFO in its journal Quarterly.

Volume (Year): 14 (2009)
Issue (Month): 2 (April)
Pages: 81-90

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Handle: RePEc:wfo:wquart:y:2009:i:2:p:81-90
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