Austrian Economy: Slowdown, But No Recession

People ♦ Published: January 26, 2012; 18:11 ♦ (Vindobona)

The Federation of Austrian Industries (IV) says that Austria will not face a recession in 2012. Nevertheless, the economic slowdown is significant.

Austrian Economy: Slowdown, But No Recession / Picture: ©

In the first quarter of 2012, a reduction in economic output is possible, the chief economist at IV, Christian Helmenstein states. However, a recession may be evaded. The weakening of the industrial growth continued in the fourth quarter 2011, but the downward trend is slower, the general secretary at IV, Christoph Neumayer added.

According to Neumayer, Austria is one of those…