Growth Accelerating in the First Quarter of 2007. Business Cycle Report of May 2007

Marcus Scheiblecker and Ewald Walterskirchen
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Ewald Walterskirchen: WIFO

Austrian Economic Quarterly, 2007, vol. 12, issue 2, 92-99

Abstract: Economic growth in Austria accelerated in the first quarter of 2007 despite the impact of the value added tax increase in Germany. Real GDP growth was 0.8 percent quarter-on-quarter and 3.2 percent year-on-year. Goods exports and investment are the main pillars of the economic upturn. Business sentiment among manufacturers is currently as optimistic as last recorded in 2000, a boom year. Retail trade also showed signs of a revival, but weak car sales and lower fuel consumption held down the result for private consumption.

Date: 2007
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