Financial Market Crisis Weighing on Economic Growth. Economic Outlook for 2008 and 2009

Markus Marterbauer

in WIFO Economic Outlook from WIFO

Abstract: Economic growth in Austria is set to decelerate to an average 2.1 percent in volume this year. This is primarily the consequence of the international financial crisis that originated from US real estate markets. Scope and duration of that crisis can still not be reliably assessed at present. The projection for GDP growth in 2009 of 1.7 percent is therefore subject to considerable risk. Exports, industrial output and investment are slackening markedly. Private consumption is not gaining momentum, partly because of inflation accelerating to 2.9 percent. While employment this year is rising even faster than expected, the decline in unemployment is likely to reverse as from 2009.

Keywords: WIFO; Economic; Outlook; Forecast; Austria (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.wifo.ac.at/wwa/pubid/31919 abstract (text/html)

Related works:
Journal Article: Financial Market Crisis Weighing on Economic Growth. Economic Outlook for 2008 and 2009 (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wfo:wkprog:31919

Access Statistics for this book

More books in WIFO Economic Outlook from WIFO Contact information at EDIRC.
Bibliographic data for series maintained by Florian Mayr ().