Wifo: Sluggish Growth Because of Weak Consumption

Politics ♦ Published: December 19, 2013; 11:55 ♦ (Vindobona)

According to Wifo’s (Austrian Institute of Economic Research) prognosis for the coming years, economic upturn in Austria will remain flat because of weak consumption.

Wifo: Sluggish Growth Because of Weak Consumption / Picture: © Vindobona.org

Early indicators promise a soon recovery of the economy which is supported by overdue investments and a higher export demand from important trade partners like Germany and the US. Consumption will remain weak because of the modest increase in wages. Moreover, the situation at the labor market is tense and the consolidation of the public budgets is still weak which is why economic growth…

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