Austria: Second Recession Ahead

Business › Economy ♦ 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…

or Log In

Fast News Search
Related News
Czech Republic to Stagnate (November 2, 2012)
Slovak Deficit to Reach 2.9% of GDP in 2013 (October 12, 2012)
Austrian Economy to Stagnate (September 14, 2012)
Austria Faces No Recession Yet (August 14, 2012)
Read More
Economic Growth, GDP Gross Domestic Product, Exports, Imports, Government Spending, Consumption
Featured
See latest Vindobona Newsletter