English, Article edition: Global Economic Crisis Striking Severely Also in Austria. Economic Outlook for 2009 and 2010 Marcus Scheiblecker

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Bookmark: http://trove.nla.gov.au/version/5648
Physical Description
  • article
Language
  • English

Edition details

Title
  • Global Economic Crisis Striking Severely Also in Austria. Economic Outlook for 2009 and 2010
Author
  • Marcus Scheiblecker
Physical Description
  • article
Notes
  • For the first time since World War II, the global economy is in recession. Demand and output will fall markedly in the world's major economic zones. Also Austria should experience a fall of GDP by 2.2 percent in real terms in 2009, despite fiscal policy taking massive counter-action. While exports and investment take a slump, private consumption withstands the recession with a further modest gain. In 2010, the cyclical support measures should prove effective also at the international level. With the fall in external demand bottoming out, economic activity in Austria should pick up by 0.5 percent.
  • Konjunkturprognose Österreich
  • RePEc:wfo:monber:y:2009:i:4:p:215-226
  • The global economic crisis leaves deep traces in the EU countries. In Austria, too, GDP will suffer a marked decline by 2.2 percent this year. While exports and investment are falling steeply, consumption will maintain a moderate upward path due to the counter-cyclical policy action taken. The labour market will suffer job losses and a strong increase in unemployment. As a result of the worldwide economic stimulus measures, Austrian GDP should pick up by a modest 0.5 percent in 2010.
  • Economic Outlook; Austria
  • RePEc:wfo:wquart:y:2009:i:2:p:81-90
Language
  • English
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