Export Industry Growing Vigorously, Energy Price Increases Weighing on Economic Activity. Business Cycle Report of March 2011
Austrian Economic Quarterly, 2011, vol. 16, issue 1, pages 57-65
In the fourth quarter, real GDP expanded by 0.8 percent compared with the previous quarter and by 2.7 percent compared with a year before. Over the whole of 2010, the economy grew by 2 percent. Exports and manufacturing remain the key drivers of the economic recovery. Equipment investment is also slowly beginning to pick up; the construction industry, by contrast, remains in recession. Private consumption rose also during the 2008-09 recession and was thus an important stabilising factor for the economy; it now continues to grow at a modest pace. The recovery in the labour market is also continuing. The number of unemployed persons has fallen by 31,000 from its peak, thus offsetting half of the increase triggered by the recession. The increase in world market prices for commodities (oil, agricultural goods, metals) is already feeding through noticeably into consumer prices: In January, inflation reached 2.4 percent.
Keywords: Business; Cycle; Report (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
http://www.wifo.ac.at/wwa/pubid/41484 Abstract (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: http://EconPapers.repec.org/RePEc:wfo:wquart:y:2011:i:1:p:57-65
Access Statistics for this article
Austrian Economic Quarterly is currently edited by Mar
More articles in Austrian Economic Quarterly from WIFO Contact information at EDIRC.
Series data maintained by Ilse Schulz ().