The Economy in 1991: Affected by the International Downturn
In 1991, repercussions of stagnation abroad were increasingly felt in Austria while the stimulus from German unification was wearing off. Real GDP rose by 3 percent, markedly less than the 4½ percent registered in 1990. The downswing was cushioned by stable domestic demand (particularly for construction investment) and booming tourism. The positive growth differential vis-à-vis the trading partners lead to a deterioration in the current account balance. Price inflation remained moderate and the rise in unemployment was checked by a ceiling introduced on the number of immigrant workers.
Österreich im Sog des internationalen Konjunkturabschwungs. Die österreichische Wirtschaft im Jahr 1991; The Economy in 1991: Affected by the International Downturn
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