Economic Growth Driven by Strong Industrial Activity. Business Cycle Report of June 2007

Sandra Bilek-Steindl

Austrian Economic Quarterly, 2007, vol. 12, issue 2, 100-108

Abstract: The Austrian economy grew at a seasonally and working day adjusted rate of 0.9 percent in real terms quarter-on-quarter in the first quarter of 2007. Manufacturing and construction expanded at a robust pace. Order book levels continue to be excellent; the results of the WIFO business survey for May point to an expansion in industrial production, which has probably already reached its peak, however. While the retail sector reported business to be good, consumption once again generated little value added in the first quarter. The rate of change was held down by the decline in fuel consumption due to the mild weather. The buoyant economy has a positive effect on the labour market; May saw the number of persons in dependent employment rise by 2.0 percent.

Date: 2007
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