English, Article edition: Activity Staying Robust, Driven by Manufacturing and Construction. Economic Outlook for 2007 and 2008 Marcus Scheiblecker

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Activity Staying Robust, Driven by Manufacturing and Construction. Economic Outlook for 2007 and 2008
Author
  • Marcus Scheiblecker
Physical Description
  • article
Notes
  • The business cycle upturn that started in 2005 is continuing throughout the current year. After an increase of 3.1 percent in 2006, real GDP is expected to expand by 3.2 percent in 2007. While export growth is gradually decelerating, investment is gaining momentum to become the key driver of the upswing. Private household consumption, while picking up this year, still lags behind its normal cyclical profile. The strong pace of growth is leading to a marked increase in the number of jobs and a further decline in unemployment. In 2008, GDP growth is likely to decelerate to 2.5 percent, due to slackening activity in the USA, the strength of the euro and the rise in long-term interest rates.
  • Konjunkturprognose Österreich
  • RePEc:wfo:monber:y:2007:i:7:p:551-561
  • This year again, the Austrian economy is set to grow by over 3 percent, decelerating only in 2008 to an expected rate of 2½ percent. On the back of robust activity, employment is rising steadily, accompanied by a continued decline in unemployment. Wage increases remain unusually tempered for the present stage of the business cycle, weighing on consumption while holding back inflation despite the strong growth of output. Government balances enjoy a significant cyclical improvement from the revenue side.
  • RePEc:wfo:wquart:y:2007:i:3:p:109-117
Language
  • English
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