Austrian Economy Barely Grew in Third Quarter. Business Cycle Report of November 2008

Sandra Bilek-Steindl

Austrian Economic Quarterly, 2008, vol. 13, issue 4, 192-199

Abstract: The global downturn is also taking hold of Austria. In the third quarter of 2008, Austria's real GDP grew at a seasonally and working day adjusted rate of 0.1 percent quarter-on-quarter (+1.5 percent year-on-year). The export-driven manufacturing sector registered a decline in value added, and activity in the construction sector began to gradually slacken. The demand for equipment investment also fell, and private consumption growth stayed subdued. Inflation remained steady at 3.7 percent in September. With crude oil and agricultural prices falling, the contribution of energy and food to headline inflation has been declining since the summer.

Keywords: Business Cycle Report; Austria (search for similar items in EconPapers)
Date: 2008
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