Austrian Economy Cooling Down Rapidly

BusinessEconomy ♦ Published: October 15, 2011; 17:40 ♦ (Vindobona)

Drastic deterioration in industrial climate and consumer sentiment point to a break in the economic recovery in the second half of 2011.Economic outlook for 2012 lowered to just 1.4 per cent.

Austrian Economy Cooling Down Rapidly / Picture: ©

The economic recovery, which proved to be stable and robust in the first half of 2011, is now faltering at the end of the summer. After a solid reading of 2.5 points the previous month, the Bank Austria Business Indicator fell to 1.5 points in August. The Austrian economy is starting to show acute signs of deterioration.

The early indicator, which is based on sentiment and bank…