Euro Area Debt Crisis Weighing Increasingly on Domestic Activity. Economic Outlook for 2012 and 2013

Marcus Scheiblecker

Austrian Economic Quarterly, 2012, vol. 17, issue 3, 143-154

Abstract: After a robust start into 2012, the Austrian economy is becoming more and more affected by the sluggish performance in the euro area. The drawn-out debate about the appropriate policy approach to resolve the acute sovereign debt crisis makes a short-term forecast at the present stage particularly uncertain. Leading indicators for Austria point to subdued economic activity in the months ahead. Against this background, GDP growth for the whole year is projected at 0.6 percent. In 2013, the growth momentum should pick up to a rate of 1.3 percent. In spite of employment maintaining an upward trend, unemployment will rise at the same time.

Keywords: Economic; Outlook; Austria; August (search for similar items in EconPapers)
Date: 2012
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