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Tricky Climate for Austrian Economy
The economic activity continues to lose pace – a weaker economic growth is expected for the remainder of the year. Exports and stable domestic demand support an unchanged GDP forecast of 0.8 per cent for 2012.
Tricky Climate for Austrian Economy / Picture: © Vindobona.org
The heightened uncertainty caused by the recent escalation in the euro crisis prior to the elections in Greece and the problems with some banks in Spain are beginning to gather as dark clouds over the Austrian economy. The Bank Austria Business Indicator in May has improved for the fifth month in a row, but this latest increase to 0.7 points is rather feeble. The upswing observed in the…
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