Euro-Crisis Enters Austria

BusinessEconomy ♦ Published: September 10, 2012; 14:58 ♦ (Vindobona)

In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.

Euro-Crisis Enters Austria / Picture: ©

The Austrian economy cools down further. After the economic data were surprisingly positive in the first quarter, the Austrian economy almost stagnated in the second quarter. Compared to the Eurozone, Austria´s economic performance is still relatively well-situated. On average, GDP was down by 0.2% in the Eurozone last quarter.

The outlook for Austria is rather gloomy, however.…