English, Article edition: High Economic Growth in 1998, but Increasing Risks in 1999. Economic Outlook for 1998 and 1999 Ewald Walterskirchen

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Physical Description
  • article
Language
  • English

Edition details

Title
  • High Economic Growth in 1998, but Increasing Risks in 1999. Economic Outlook for 1998 and 1999
Author
  • Ewald Walterskirchen
Physical Description
  • article
Notes
  • With a rate of 3.3 percent, economic growth in 1998 will reach the highest value since 1991. This dynamic development is mainly based on a vigorous expansion of exports and investment. The forecast of GDP growth has to be revised downwards for 1999 (+2.8 percent), in line with projections for the global economy. The crisis on the financial markets – the main risk factor of the forecast – will dampen economic growth, a revival of domestic demand notwithstanding. The plunge in world commodity prices will depress inflation to a record low of 1 percent. Unemployment is likely to decline only slightly to 4.4 percent, despite strong employment gains.
  • RePEc:wfo:wquart:y:1998:i:4:p:167-175
  • The Austrian economy is expected to grow in 1998 by 3.3 percent, the highest growth rate since 1991. A vigorous expansion of exports and investment outlays form the basis of this dynamic development. Economic activity is set to slow down in 1999, however, as a result of the turbulence on the global financial markets. At 2.8 percent, GDP growth in Austria will nonetheless continue to exceed the medium-term trend.
  • High Economic Growth in 1998, but Increasing Risks in 1999. Economic Outlook for 1998 and 1999
  • RePEc:wfo:monber:y:1998:i:10:p:659-660
Language
  • English
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