Major Risks for the World Economy, Slump in Domestic Construction Demand. Economic Outlook for 2001 and 2002

Markus Marterbauer

WIFO Monatsberichte (monthly reports), 2001, vol. 74, issue 10, 593-594

Abstract: Under benign assumptions concerning the international business cycle, the Austrian economy should grow by 1.3 percent in volume this year, and by 1.9 percent in 2002, provided that the U.S. economy recovers and policy in the EU takes action to stem the forces of recession. Along with weaker foreign demand, domestic factors are also dampening growth. In particular the construction sector is in a crisis, affecting building of new structures and civil engineering alike. Unemployment is set to rise significantly, exceeding 6 percent of the dependent labour force, while inflation should decelerate. Due to the effect of automatic budgetary stabilisers, the general government balance in 2002 may be in deficit of around ATS 10 billion (€ 0.74 billion), equivalent to 0.3 percent of GDP. The public sector should thereby contribute towards sustaining economic activity.

Keywords: Austria; Major Risks for the World Economy, Short-term Forecast, Slump in Domestic Construction Demand. Economic Outlook for 2001 and 2002 (search for similar items in EconPapers)
Date: 2001
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.wifo.ac.at/wwa/pubid/20598 abstract (text/html)
Payment required

Related works:
Journal Article: Major Risks for the World Economy, Slump in Domestic Construction Demand. Economic Outlook for 2001 and 2002 (2001)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wfo:monber:y:2001:i:10:p:593-594

Ordering information: This journal article can be ordered from
Austrian Institute of Economic Research Publikationsverkauf und Abonnentenbetreuung Arsenal, Objekt 20 A-1030 Vienna/Austria

Access Statistics for this article

More articles in WIFO Monatsberichte (monthly reports) from WIFO Contact information at EDIRC.
Bibliographic data for series maintained by Florian Mayr ().