Income Grows Slower Than GDP

BusinessEconomy ♦ Published: July 14, 2012; 16:16 ♦ (Vindobona)

For years, the increase in wages and salaries is lower than the rise in company profits.

Income Grows Slower Than GDP / Picture: ©

Austrian employees cannot take up with the economic development anymore. In real terms, the Austrian economy grew by 2.7% last year. As a result, Austria is among the more dynamic EU member countries. The year before, the economic growth was 2.1%. A major recession was recorded in 2009: the Austrian economy shrank by 3.8%. Last year, the Austrian GDP reached € 301bn. GDP per capita…