Economic Downturn Becomes More Obvious

BusinessEconomy ♦ Published: November 16, 2011; 15:38 ♦ (Vindobona)

Due to the strong development in the first half year, Austria´s economic growth will amount to 2.9% in 2011. However, for 2012 the growth rate will decrease significantly.

Economic Downturn Becomes More Obvious / Picture: ©

According to Bank Austria, the economic growth in 2012 only reaches 1.1%, after 2.9% in 2011. For the economist Stefan Bruckbauer, the recovery of the Austrian economy has now ended. Now, Austria faces a significant drop in economic growth and will only have a slow improvement in growth.

“The market environment is worsening the outlook drastically. In November, producers as…