Low Growth Rates Expected after 2012

BusinessEconomy ♦ Published: January 23, 2012; 15:34 ♦ (Vindobona)

In a medium-term forecast, the Austrian Institute of Economic Research (WIFO) expects only very decent economic growth rates.

Low Growth Rates Expected after 2012 / Picture: © Vindobona.org

Within the next five years, economic growth will remain relatively weak, says WIFO. On average, a GDP growth rate of 1.6% is expected. As a result, the Austrian economy growth is lower by 0.5 percentage points compared to the period from 2003 to 2008. The economic downturn already began in the second half of 2011 and will remain in 2012 and 2013. An improvement is not seen until…