English, Article edition: Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003 Ewald Walterskirchen

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003
Author
  • Ewald Walterskirchen
Physical Description
  • article
Notes
  • The slide on stock markets has shaken confidence of consumers and business world-wide. The business cycle recovery is thereby being delayed. The Austrian economy is projected to grow by barely 1 percent this year, and by over 2 percent in 2003. The slow pace of activity is causing a sharp rise in unemployment and an overrun in budget deficits. The recovery expected for next year is based on the assumption of a consolidation on stock markets and an unwinding of the negative investment cycle.
  • Business Cycle Analyses; Outlook; Austria; Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003
  • RePEc:wfo:wquart:y:2002:i:4:p:156-166
  • The Austrian economy is set to grow by slightly less than 1 percent this year and by over 2 percent in 2003. The risks surrounding the recovery of the business cycle, to which WIFO had pointed in its forecast of last June, have materialised. The slide in stock market values has undermined consumer and business confidence world-wide. Given the degree of uncertainty and the weaker sentiment, growth prospects have to be revised downwards. Sluggish activity is being reflected in a marked rise in unemployment and in budget deficits exceeding initial targets.
  • Outlook; Business Cycle; Austria; Forecast; Business Cycle Recovery Delayed. Economic Outlook for 2002 and 2003
  • RePEc:wfo:monber:y:2002:i:10:p:619-620
Language
  • English
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