Austria: Second Recession Ahead
Published: November 15, 2012; 20:42 · (Vindobona)
The double-dip scenario becomes more and more likely. In the third quarter, Austria´s GDP was down for the first time since 2009.
Austria: Second Recession Ahead / Picture: © Banco Santander
The second wave of the economic crisis in Europe has finally reached Austria. According to the Austrian Institute of Economic Research (WIFO), Austria´s GDP was down by 0.1% against the second quarter. Exports and domestic demand performed rather weak. Consumption of private households is stagnating since the beginning of the year.
Due to the higher government spending, domestic…
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