Austrian Economy at a Standstill – "But probably not for long"

BusinessEconomy ♦ Published: September 17, 2012; 19:39 ♦ (Vindobona)

Bank Austria's Business Indicator sinks to -0.7 points in August, the third decline in a row. 2012 as a whole expected to be up to 1 percent, in spite of stalled economic activity in the second half of the year.

Austrian Economy at a Standstill – "But probably not for long" / Picture: © Uni Credit Group Bank Austria

The cooling of the international economic climate and the ongoing recession in some countries around Europe are increasingly afflicting the Austrian economy. "The August reading of the Bank Austria Business Indicator sank visibly compared to the previous month to just -0.7 points. This means the indicator has been negative for three months in a row", says Stefan Bruckbauer, chief…