Stagnation Expected in Austria for 2011

BusinessEconomy ♦ Published: October 17, 2011; 17:16 ♦ (Vindobona)

Insecurity and a lack in foreign demand will cause a massive slowdown of the Austrian economy in 2012. Consumers and companies become more cautious.

Stagnation Expected in Austria for 2011 / Picture: ©

The deterioration of the economic environment of the previous weeks, which is reflected in the available indicators for the third quarter of 2011, has only allowed for a moderate economic growth in Austria between July and September.

Analysts from Bank Austria believe that Austria’s economic dynamics have decreased from 0.7 per cent in the second quarter to 0.2 per cent in the…