Economic Upswing Gaining Strength. Business Cycle Report of August 2006

Sandra Steindl and Ewald Walterskirchen
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Ewald Walterskirchen: WIFO

Austrian Economic Quarterly, 2006, vol. 11, issue 3, pages 138-146

Abstract: The Austrian economy grew by 3 percent year-on-year in the second quarter, according to WIFO's flash estimate. While exports and investment in machinery and equipment gained momentum compared with previous quarters, private consumption and housing construction did not show any signs of a revival. The good performance of the economy in the euro area provides a vigorous stimulus to the Austrian economy. Jobs are being created in large numbers, and unemployment is declining slightly.

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