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Economic Growth to Slow Down in Second Half of 2011

Business › Economy ♦ Published: July 19, 2011; 23:14 ♦ (Vindobona)

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Real growth is predicted to fall to 0.3% in the third quarter. The forecast is based on reduced export prospects, a lower number of new orders and the euro crisis.

Economic Growth to Slow Down in Second Half of 2011 / Picture: © Vindobona.org

Growth of the Austrian economy is slowing down in the middle of the year 2011. In the second quarter, real GDP growth fell to 0.6% compared to the previous three months. The Austrian National Bank (OeNB) on Tuesday announced that the third quarter will bring a further decline to 0.3%. Weak export prospects, indicators such as the purchasing managers’ index and the crisis in several…