Cyclical Upswing, but Lasting Uncertainty. Economic Outlook for 2010 and 2011
Benefiting from the depreciation of the euro in the first half of the year, euro area exports should keep their upward trend in the remainder of 2010. At the same time, however, economic growth is set to slow down somewhat in the USA and in Asia. In 2011, the cyclical upswing in the euro area will maintain a moderate pace. While industrial activity should prove resilient, the high government deficits and imminent consolidation moves, hesitant private investment behaviour, the need for financial sector reform and macroeconomic imbalances within the euro area will weigh on demand and output growth. For Austria, WIFO expects real GDP to expand by 2 percent in 2010 and 1.9 percent in 2011. The revival of business activity will contribute to improvements in the labour market and in public finances. By 2011, the unemployment rate should ease to 6.8 percent of the dependent labour force, and the government deficit, including the planned consolidation measures, should narrow to 3.5 percent of GDP.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 15 (2010)
Issue (Month): 4 (November)
|Contact details of provider:|| Postal: Arsenal Object 20, A-1030 Wien|
Phone: (+43 1) 798 26 01-0
Fax: (+43 1) 798 93 86
Web page: http://www.wifo.ac.at/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:wfo:wquart:y:2010:i:4:p:300-311. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz)
If references are entirely missing, you can add them using this form.