Economic Revival in the EU and in Austria Remains in Low Gear. Business Cycle Report of May 2010

Sandra Bilek-Steindl

Austrian Economic Quarterly, 2010, vol. 15, issue 2, 146-154

Abstract: While the economies of the USA and emerging Asia and Latin America expanded markedly at the beginning of the year, economic activity in Europe and in Austria remained weak. Austria's economy stagnated in the first quarter, according to WIFO's flash estimate. The construction sector registered weather-related production losses, and the upward trend observed in manufacturing in recent months came to a halt. However, evidence from the latest WIFO business cycle survey points to a revival in the second quarter. The stabilisation of economic activity is slowly feeding through into the labour market. In March and April 2010 the unadjusted number of people employed improved for the first time compared with a year earlier.

Date: 2010
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