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Austria's Industry and Economy under Pressure: Economic Experts Discuss Solutions
The situation in Austrian industry has deteriorated continuously since mid-2021. The Federation of Austrian Industries (IV) is now issuing an urgent warning about the consequences of this development. “Industry is in a bleak situation,” explained IV chief economist Christian Helmenstein. There is no sign of a recovery shortly, which is seriously jeopardizing the competitiveness of the location and the prosperity of the country.
The Federation of Austrian Industries (IV) warns of a continuing downward spiral for the Austrian economy. / Picture: © Wikimedia Commons / Buchhändler [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]
The latest results of the IV economic survey for the fourth quarter of 2024 paint an alarming picture: 417 industrial companies surveyed with a total of around 310,400 employees report a negative development across the board. It is particularly striking that the assessment of the current business situation has failed to improve for the 14th consecutive quarter - a historically…
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