English, Article edition: Economic Recovery Surrounded by Risks. Economic Outlook for 2002 and 2003 Ewald Walterskirchen

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Economic Recovery Surrounded by Risks. Economic Outlook for 2002 and 2003
Author
  • Ewald Walterskirchen
Physical Description
  • article
Notes
  • The business cycle should have reached its lower turning point in the first quarter, and a recovery is expected to gather momentum from now. Because of the negative carry-over from last year, GDP growth on annual average 2002 may not exceed 1.2 percent, accelerating to 2.8 percent in 2003. While the upswing receives its major stimulus from abroad, the international environment also holds the major risks to the recovery. The effects of slow growth will continue to weigh on the labour market and on public finances in 2002, before some relief should become visible in 2003.
  • RePEc:wfo:wquart:y:2002:i:3:p:98-108
  • The Austrian economy is expected to grow by slightly over 1 percent this year, and by more than 2½ percent in 2003. This projection by WIFO has been upheld since last December. It is supported by a tentative rebound in activity in the first quarter and the recent trend in leading indicators. However, the risks deriving from international developments appear somewhat greater now than at the time of the last forecasting round in mid-April. The business cycle upturn in the EU has so far been hesitant, and in the USA the fragility of consumer confidence and the fall on stock markets are adding to uncertainty.
  • Outlook; Business Cycle; Austria; Economic Recovery Surrounded by Risks. Economic Outlook for 2002 and 2003
  • RePEc:wfo:monber:y:2002:i:7:p:423-424
Language
  • English
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