Nowotny Expects Lower Growth Rates

People ♦ Published: October 31, 2011; 12:39 ♦ (Vindobona)

The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.

Nowotny Expects Lower Growth Rates / Picture: © Wikipedia / Christian Wirth (Wirthi)

The Austrian Central Bank will have to correct its recent growth forecast. The next one will be published by the beginning of December.

For 2011, Nowotny sees a substantial growth of 3.0% - in spite of the drastic cool-down in the third and fourth quarter of 2011. “In 2012 we will have a significantly lower growth.”, Nowotny states.

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