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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…

This article includes a total of 130 words.

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