English, Article edition: Exports Driving Activity. Economic Outlook for 2004 and 2005 Ewald Walterskirchen

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Bookmark: http://trove.nla.gov.au/version/97873
Physical Description
  • article
Language
  • English

Edition details

Title
  • Exports Driving Activity. Economic Outlook for 2004 and 2005
Author
  • Ewald Walterskirchen
Physical Description
  • article
Notes
  • The strengthening of global economic activity has initiated a recovery in Europe this year. Lively exports have led to a marked increase in manufacturing output. In Austria, as in the euro area as a whole, GDP is set to rise by 1.9 percent in volume in 2004. While world trade may lose momentum next year, growth in Europe should receive stronger support from domestic demand. However, the recent jump in oil prices constitutes a risk for the short-term outlook.
  • RePEc:wfo:monber:y:2004:i:10:p:723-724
  • The improvement of global business conditions is stimulating activity also in Europe in 2004. Driven by strong export growth, GDP in Austria is expected to grow by 1.9 percent, at the same pace as in the euro area. In 2005, while growth of world trade is set to lose momentum, domestic demand should provide a larger contribution to growth in Europe. Under the positive impact of tax cuts, Austrian GDP growth is expected to accelerate to 2.5 percent in 2005. However, the high oil prices constitute a risk for the short-term outlook.
  • Economic Outlook; Austria
  • RePEc:wfo:wquart:y:2004:i:4:p:143-153
Language
  • English
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