IDEAS home Printed from https://ideas.repec.org/a/wfo/wquart/y2012i1p1-11.html
   My bibliography  Save this article

Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013

Author

Listed:
  • Marcus Scheiblecker

Abstract

In response to the sovereign debt crisis in the euro area, many member countries apply cuts to their government finances. This will weigh on internal demand and output growth in the euro area, at a time when also the cyclical momentum of the global economy decelerates. For the year to come, economic growth in the euro area is thus expected to come to a halt, and business activity in Austria is about to slacken. Real GDP growth in Austria is forecasted to moderate from 3.2 percent to 0.4 percent in 2012. Only in 2013 will the international upturn lead to a rebound in GDP growth to an expected rate of 1.6 percent. While headline inflation should decline markedly in 2012, the cyclical downturn will take its toll on the labour market, with employment growth levelling off and unemployment heading up.

Suggested Citation

  • Marcus Scheiblecker, 2012. "Sovereign Debt Crisis Tightening Its Grip on the Real Economy. Economic Outlook for 2012 and 2013," Austrian Economic Quarterly, WIFO, vol. 17(1), pages 1-11, February.
  • Handle: RePEc:wfo:wquart:y:2012:i:1:p:1-11
    as

    Download full text from publisher

    File URL: https://www.wifo.ac.at/wwa/pubid/43512
    File Function: abstract
    Download Restriction: Payment required
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Stefan Ederer & Serguei Kaniovski & Hans Pitlik & Thomas Url, 2012. "Slow Upturn Following Soft Patch in 2012. Medium-term Forecast of the Austrian Economy until 2016," Austrian Economic Quarterly, WIFO, vol. 17(1), pages 12-23, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wfo:wquart:y:2012:i:1:p:1-11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Florian Mayr (email available below). General contact details of provider: https://edirc.repec.org/data/wifooat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.