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

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  • Marcus Scheiblecker

Abstract

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.

Suggested Citation

  • Marcus Scheiblecker, 2009. "Global Economic Crisis Striking Severely also in Austria. Economic Outlook for 2009 and 2010," WIFO Economic Outlook, WIFO, number 35539, December.
    • Handle: RePEc:wfo:wkprog:35539
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    WIFO Economic Outlook;

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