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Austria Faces Recession

Published: December 7, 2012; 20:03 · (Vindobona)

Austria´s National Bank OeNB has revised the growth forecasts one more time. Next year, Austria´s economy will only grow by 0.5%.

Austria Faces Recession / Picture: ©

In the short term, Austria records a recession, OeNB says. In the third quarter of 2012, Austria´s economy contracted by 0.1%. A slight decrease is expected in the fourth quarter.

In total, economic growth will only come at 0.5% this year, OeNB forecasts. Initially, the expected growth rate was 0.9%. The growth forecast for 2013 had to be cut even more radically. In summer, a…

This article includes a total of 415 words.

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