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Austrian Economy: OeNB Demonstrates Optimism
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The Austrian Central Bank is satisfied with the performance of the domestic economy underlines the necessity of austerity measures.
Austrian Economy: OeNB Demonstrates Optimism / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]
Looking at the economic situation, Austria’s economy performed well, recording a GDP growth rate of 3% in 2011, markedly above the euro area average. The 4% unemployment rate was the lowest in the entire EU. The current account again posted a surplus. In 2012, growth is projected to be somewhat below 1% as a result of the weaker external macroeconomic environment and stepped-up…
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