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Economic Conditions Remain Weak. Business Cycle Report of December 2012

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  • Stefan Schiman

Abstract

Persistently weak demand in advanced economies increasingly dampens economic activity in emerging market economies. In the USA, domestic demand has been below average lately; the slowdown of growth experienced by China may have passed its nadir; the euro area saw GDP contract slightly in the third quarter. In Austria, GDP edged up at a quarter-on-quarter rate of 0.1 percent in the third quarter. While domestic demand remained persistently sluggish, exports picked up once again; however, the increase in imports partly offset the growth in value added achieved. Economic activity is set to remain subdued in the months ahead, but the general picture presented by indicators has not deteriorated further of late. Unemployment continued to increase in year-on-year terms; seasonal factors are weighing on labour market conditions over the shorter term.

Suggested Citation

  • Stefan Schiman, 2012. "Economic Conditions Remain Weak. Business Cycle Report of December 2012," Austrian Economic Quarterly, WIFO, vol. 17(4), pages 273-282, December.
    • Handle: RePEc:wfo:wquart:y:2012:i:4:p:273-282
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    Business Cycle Report Austria;

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