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UniCredit Bank Austria: Austrian Economy Remains in the Downturn - Hope for Recovery Only in 2025
The economic situation in Austria remains tense and a sustainable recovery does not appear to be in sight until 2025. The latest reports from UniCredit Bank Austria paint a gloomy picture for 2024. Despite some positive signs, particularly in the service sector, the economy is in a prolonged slump. Industry and the construction sector in particular continue to be under great pressure, which is weighing heavily on the overall situation in Austria.
Economists at Bank Austria, which is a member of the Italian UniCredit Group, have analyzed the Austrian economy. / Picture: © Wikimedia Commons /Boubloub/ CC0 1.0 Universal (CC0 1.0) Public Domain Dedication
UniCredit Bank Austria's economic indicator rose to minus 2.9 points in February 2024, the best value in nine months but still well below the long-term average. This rise is interpreted by economists as a sign of a very slow improvement in economic conditions. “The improvement in the economic situation is continuing at a very moderate pace,” explains Stefan Bruckbauer, Chief…
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