Wifo/IHS: 2012 Brings Collapse of Economic Growth

Business › Economy ♦ Published: September 30, 2011; 12:26 ♦ (Vindobona)

The research institutes cut their growth forecasts for the Austrian economy by 50%. Unemployment numbers are expected to increase.

Wifo/IHS: 2012 Brings Collapse of Economic Growth / Picture: © Calculation

In 2012, the growth rate of the Austrian economy will be the lowest in eight years, according to the Austrian Institute of Economic Research (WIFO) and the Institute of Advanced Studies (IHS). In their forecasts published today, the institutes predict a real growth rate of only 0.8% and 1.3%, respectively. Up to now, they had expected a plus of 1.8% and 2.1%,…

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