English, Article edition: Heightened Cyclical Risks. Economic Outlook for 2005 and 2006 Marcus Scheiblecker; Ewald Walterskirchen

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Heightened Cyclical Risks. Economic Outlook for 2005 and 2006
Author
  • Marcus Scheiblecker
  • Ewald Walterskirchen
Physical Description
  • article
Notes
  • The projection for GDP growth in 2005 and 2006 remains unchanged, but the risk of adverse developments has increased. The further cyclical profile in the euro area is uncertain, since the gains in exports and corporate earnings have so far not translated into the expected higher investment and consumption. The high oil prices constitute a further risk element. The Austrian economy should fare better than the euro area average, on account of the demand incentives resulting from the tax reform. GDP is projected to grow at a steady 2¼ percent annual rate in 2005 and 2006. This will not suffice to lower the rate of unemployment, given the massive increase in labour supply.
  • WIFO Economic Outlook
  • RePEc:wfo:wquart:y:2005:i:2:p:55-65
  • The short-term business outlook in the euro area is surrounded by considerable uncertainty. Recent gains in exports and profits have so far not translated into higher investment and consumer spending. High oil prices constitute a further risk element. Owing to the positive incentives from the tax reform, the Austrian economy is performing better than the euro area as a whole. GDP is projected to expand at a steady 2¼ percent p.a. in 2005 and 2006. The rate of unemployment is nevertheless unlikely to decline, given the massive increase in labour supply.
  • Economic Outlook Austria
  • RePEc:wfo:monber:y:2005:i:4:p:207-208
Language
  • English
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