Wifo Cuts Growth Forecast for 2012

BusinessEconomy ♦ Published: August 31, 2011; 15:59 ♦ (Vindobona)

The research institute sees the current economic upward trend coming to an end but does not expect a recession in Europe.

Wifo Cuts Growth Forecast for 2012 / Picture: © WIFO Wirtschaftsforschungsinstitut

The Austrian Institute of Economic Research (Wifo) will revise its economic growth forecasts for 2012 downwards. This was announced by the institute’s director Karl Aiginger on Wednesday.

Thanks to the strong first half of the year, Aiginger sees no need to revise the forecast for 2011. Wifo expects a GDP growth rate of 3% for the full year. Up to now, the institute predicted…