WIFO Sees Growing Signs of Economic Slowdown

BusinessEconomy ♦ Published: November 10, 2011; 15:05 ♦ (Vindobona)

The research institute expects a substantial decline in Austria’s GDP growth rate. Companies have already lowered their expectations for the months to come.

WIFO Sees Growing Signs of Economic Slowdown / Picture: © Vindobona.org

According to the Austrian Institute of Economic Research (WIFO), the domestic economy is increasingly showing signs of a significant downturn. Export-oriented goods manufacturers will be hit the hardest by a global slowdown, the institute stated in its press release of Thursday. Companies are already lowering their earnings expectations for the next months – also in the service sector…