Wifo: Austrian Economic Growth Still Sluggish

Politics ♦ Published: December 9, 2013; 09:57 ♦ (Vindobona)

Seasonally adjusted and corrected for working day effects, GDP increased by 0.2 percent compared to the second quarter. The upturn becomes evident only in a very moderate pace.

Wifo: Austrian Economic Growth Still Sluggish / Picture: © Vindobona.org

Economic growth still remains fragile and varies in the different EU member counties. The low price dynamic was reason for the ECB (European Central Bank) to lower the key interest rate to a record low of 0.25 percent on November 13. The unemployment rate, which came at 12.2 percent in October, continued to remain high in the Eurozone.

The Austrian economy improved slightly in…