Austria Might Prevent Recession Scenario

BusinessEconomy ♦ Published: December 10, 2012; 23:19 ♦ (Vindobona)

According to the Austrian Institute of Economic Research (WIFO), Austria´s economic performance remains weak.

Austria Might Prevent Recession Scenario / Picture: ©

The macro-economic situation remains difficult, WIFO states. In the third quarter, Austria´s economic growth was not negative, however. Last week, Austrian National Bank´s (OeNB) governor Ewald Nowotny explained that Austria faces a recession.

Nevertheless, Austria´s economic growth will remain very weak, WIFO. Both domestic demand and foreign demand are flattening. Moreover,…