English, Article edition: Slowdown in Economic Growth. Economic Outlook for 1999 and 2000 Ewald Walterskirchen

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Slowdown in Economic Growth. Economic Outlook for 1999 and 2000
Author
  • Ewald Walterskirchen
Physical Description
  • article
Notes
  • 1998 was a prosperous year for Austria's economy despite adverse global economic conditions. At 3.3 percent, GDP growth perceptibly exceeded the EU average. In the fall, however, signs of an impending slowdown appeared, a result of the crises in Asia, Russia, and Latin America as well as of the turbulence on the international financial markets. Thus, economic growth in 1999 is likely to moderate to 2.4 percent, as the negative impact of the global economy is being partly offset by lively domestic demand. The expansion of Austria's economy in 1999 will not be strong enough to markedly reduce the unemployment rate. If policy makers in the major economies react in an appropriate manner to the economic instability, the economic weakness will probably be overcome in the year 2000.
  • RePEc:wfo:wquart:y:1999:i:1:p:5-12
  • After the prosperous year of 1998, which saw a growth rate of 3.3 percent, economic expansion in Austria will slow down to 2.4 percent as a result of adverse international conditions. Consumer spending will remain the backbone of the economy. The advance in economic activity is unlikely to be strong enough to significantly lower the unemployment rate.
  • Slowdown in Economic Growth. Economic Outlook for 1999 and 2000
  • RePEc:wfo:monber:y:1999:i:1:p:13-14
Language
  • English
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