Austria´s Economy Performed Better than EU-average During Crisis

BusinessEconomy ♦ Published: April 28, 2011; 09:41 ♦ (Vindobona)

The Vienna Institute for International Economic Studies (wiiw) has just published a study, which quantifies trade-related transmission mechanisms of the global drop in investment demand and output to recession in Austria.

Austria´s Economy Performed Better than EU-average During Crisis / Picture: © Vindobona.org

The study shows that the disproportional drops in global demand for heavy industrial and investment goods had the strongest impact on Austria. However looking at value added, the global recession also put strong pressure on producer services that go into manufacturing goods.

Though it did not avoid recession, the Austrian economy performed better than the many of the EU 15. Its…