Global Economic Crisis Striking Severely Also in Austria. Economic Outlook for 2009 and 2010

Marcus Scheiblecker
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Marcus Scheiblecker: WIFO

WIFO Monatsberichte (monthly reports), 2009, vol. 82, issue 4, pages 215-226

Abstract: For the first time since World War II, the global economy is in recession. Demand and output will fall markedly in the world's major economic zones. Also Austria should experience a fall of GDP by 2.2 percent in real terms in 2009, despite fiscal policy taking massive counter-action. While exports and investment take a slump, private consumption withstands the recession with a further modest gain. In 2010, the cyclical support measures should prove effective also at the international level. With the fall in external demand bottoming out, economic activity in Austria should pick up by 0.5 percent.

Keywords: Konjunkturprognose; Österreich (search for similar items in EconPapers)
Date: 2009

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