Sluggish Recovery in 2003. Economic Outlook for 2003 and 2004

Ewald Walterskirchen
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Ewald Walterskirchen: WIFO

in WIFO Economic Outlook from WIFO

Abstract: The Austrian economy grew by slightly less than 1 percent in 2002. For 2003, only a gradual recovery of activity should be expected, given the subdued business climate world-wide. GDP growth for Austria, as well as for the euro area, is projected at 1¾ percent, below the medium-term trend. Expectations of firms and consumers are brightening up only slowly, as risks on international financial, real estate and energy markets remain high. The weak momentum of the recovery will prevent both unemployment and the budget deficit from falling in 2003.

Keywords: Outlook; Austria; Business Cycle; Sluggish Recovery in 2003. Economic Outlook for 2003 and 2004 (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wkprog:23397

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