Gloomy Growth Prospects for Austria

BusinessEconomy ♦ Published: June 16, 2012; 12:31 ♦ (Vindobona)

Bank Austria cuts its growth prospects for Austria. Instead of a GDP growth of 2.0% in 2013, the analysts now expect economic growth to reach 1.5%.

Gloomy Growth Prospects for Austria / Picture: © Wikimedia Commons [CC0 1.0] / Pixabay [CC0 Creative Commons]

The Austrian economic growth remains rather slow. The tensioned situation in Spain, the persistent crisis in Greece and the overall public debt crisis in Europe harm growth prospects.

Nevertheless, Bank Austria confirms ist economic growth forecast for 2012. A rise in Austria´s GDP of 0.8% is expected. In its last forecast, Bank Austria anticipated an economic growth rate of…