OECD: 2012 Brings Stagnation

Politics ♦ Published: November 28, 2011; 15:50 ♦ (Vindobona)

The OECD forecasts only a 0.6% growth rate for Austria. The euro-zone will experience a recession.

OECD: 2012 Brings Stagnation / Picture: © Vindobona.org

For the euro-zone, the OECD sees a “deep recession”, if politics will not provide quick solutions. However, Austria is not concerned for the time being. This year brings a growth rate of 3.2%. For 2012, a growth rate of 0.6% is expected. In May 2011, the OECD still estimated Austrian growth for the next year to reach 2.1%.

The whole economy faces a situation of increased…