English, Article edition: Strong Growth in Manufacturing and Sizable Employment Gains. Economic Outlook for 1998 and 1999 Markus Marterbauer

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Strong Growth in Manufacturing and Sizable Employment Gains. Economic Outlook for 1998 and 1999
Author
  • Markus Marterbauer
Physical Description
  • article
Notes
  • Strong growth of merchandise exports and of machinery and equipment investment characterize the business cycle in 1998. Austrian GDP is set to increase by 3 percent in volume. With new jobs being created to a large number and income growth resuming, private consumption should strengthen. Construction investment may lag the general recovery, due mainly to falling residential building. In 1999, the current upturn may attain a first peak, at a projected GDP growth rate of 3.2 percent. The strong momentum of output and employment gains will allow unemployment to recede in 1999. Inflation is expected to stay very low, at 1.2 (1998) and 1½ percent (1999). The current account deficit should narrow to 1.4 percent of GDP, while government net borrowing may remain broadly stable at a ratio of 2.4 percent.
  • RePEc:wfo:wquart:y:1998:i:3:p:115-122
  • Driven by strong exports of goods and lively industrial activity and investment, the Austrian economy is set to grow by 3 percent in volume this year. In 1999, with private consumption becoming a major force of expansion, GDP growth should accelerate further, to an average rate of 3.2 percent. Output strength will stimulate demand for labor and push employment to a new high, while allowing unemployment to recede in 1999 for the first time since 1994.
  • Strong Growth in Manufacturing and Sizable Employment Gains. Economic Outlook for 1998 and 1999
  • RePEc:wfo:monber:y:1998:i:7:p:455-456
Language
  • English
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