Austria´s Economy: Recovery Accelerates

BusinessEconomy ♦ Published: November 15, 2010; 13:46 ♦ (Vindobona)

According to the Report of Bank Austria “Austria´s Economy”, GDP increases stronger than expected. The labor market experiences some weaknesses.

Austria´s Economy: Recovery Accelerates / Picture: © Uni Credit Group Bank Austria

The pace of recovery of the Austrian economy remains dynamic due to unabated strong foreign demand. We expect q-o-q growth of 0.8 per cent for the third quarter and 0.5 per cent for the fourth quarter of 2010. GDP growth is now likely to amount to 1.9 per cent for the year as a whole. The slowdown of the global economy, the weaker impetus from the inventory cycle and…