Wifo: Economic Growth with Brakes On

Politics ♦ Published: August 9, 2013; 12:55 ♦ (Vindobona)

Economic upswing will take time. Considering the individual branches an uneven picture emerges.

Wifo: Economic Growth with Brakes On / Picture: © Vindobona.org

The good news of Wifo (Austrian Institute for Economic Research): The economy will recover and there is an upswing. The bad news is that the development is progressing very gradually with weak trade and tourism.

In general, the picture is very uneven, according to the monthly economic report of Wifo. While economic growth in the US, driven by consumption and investments, remains…