Economic Growth to Slow Down Significantly

BusinessEconomy ♦ Published: August 12, 2011; 21:14 ♦ (Vindobona)

Industry and consumer sentiment is at its lowest level since mid-2010. The GDP growth rate is predicted to fall to 1.8% in 2012.

Economic Growth to Slow Down Significantly / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]

Bank Austria’s economic research department expects the Austrian economy to cool down in the second half of the year. Although the analysts reckon that a double-dip recession is unlikely, they argue that most recent economic data clearly indicated the risk of a prolonged international downturn, which would harm Austria’s economic prospects. The Bank Austria Business Indicator…