Economic Downturn Reaches Austria

BusinessEconomy ♦ Published: September 9, 2011; 20:40 ♦ (Vindobona)

A current survey indicates an imminent deterioration of the Austrian economy. Researchers don’t expect a recession but a clear downward trend.

Economic Downturn Reaches Austria / Picture: ©

The results of the Wifo economy test, a monthly survey among 1,500 Austrian enterprises, show first signals of an economic slowdown. “We have not yet observed a shrinking economy but the trend is clearly negative”, said Marcus Scheiblecker, economy expert at the Austrian Institute of Economic Research (Wifo). “We are not talking about a recession, however, we cannot exclude the…