OeNB: Austrian Economy Is Stagnating

BusinessEconomy ♦ Published: October 12, 2011; 20:48 ♦ (Vindobona)

Uncertainty about the global economic development has reduced business and consumer confidence in Austria.

OeNB: Austrian Economy Is Stagnating / Picture: © OeNB

Growth of the Austrian economy will come to a halt in the second half of 2011. This is predicted by the Austrian National Bank (OeNB) in its latest forecast published on Wednesday. For the third quarter of the year, the OeNB still sees a slight plus of 0.1% compared to the previous three months, whereas a complete standstill in growth (+0.0%) is expected for the period from October to…