Geopolitical Tensions, Energy Crisis and Inflation Shape Economic Activity. The Austrian Economy in 2022

Josef Baumgartner, Juergen Bierbaumer-Polly, Sandra Bilek-Steindl, Benjamin Bittschi, Christian Glocker, Christine Mayrhuber and Margit Schratzenstaller
Additional contact information
Christian Glocker: WIFO

WIFO Reports on Austria, 2023, issue 7

Abstract: Geopolitical changes and the energy crisis shaped the development of the global economy in 2022. Regionally, economic activity was heterogeneous, with rising uncertainty and supply shortages resulting in high price increases in many countries. Austria's economy continued to expand strongly in the first half of the year, but high inflation dampened consumer and investment demand as the year progressed. Consumer price inflation rose to a peak of 11 percent in the autumn of 2022, leading to, among other things, real wage losses for employees. The Austrian federal government implemented extensive temporary and permanent relief measures to cushion the social and economic impact of inflation and the energy crisis on companies and private households.

Keywords: Business; Cycle; Report (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.wifo.ac.at/wwa/pubid/70807 abstract (text/html)

Related works:
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:repoau:y:2023:i:7

Access Statistics for this article

More articles in WIFO Reports on Austria from WIFO Contact information at EDIRC.
Bibliographic data for series maintained by Florian Mayr ().