Austrian Economy Still Stagnating

Politics ♦ Published: May 15, 2013; 12:28 ♦ (Vindobona)

The Austrian economy has been stagnating for a year and has avoided recession only just.

Austrian Economy Still Stagnating / Picture: ©

Even in the first quarter of 2013 the domestic GDP remained almost unchanged for the fourth time in a row. The Austrian Economic Research Institute (Wifo) referred to the current economic situation as zero growth in quarterly intervals.

The last quarterly growth worth mentioning was in the first quarter of 2012 in the amount of 0.5 %. The growth rate then circled between 0.1 % in…