Economic Outlook for 1992 and 1993: Cyclical Downturn Cushioned by Tourism and Construction Boom
Austrian exports and manufacturing output are now increasingly feeling the foreign demand slack. Industrial production is on a downward trend; export orders, capacity utilization and the profit situation are all unsatisfactory. However, the outlook for overall economic activity is more encouraging due to the continued support from domestic demand. With a projected GDP growth rate of 2 percent Austria would keep a growth advantage over OECD Europe. Two sectors are particularly responsible for this good performance: Construction investment and tourism. Stronger growth of activity than abroad will further widen the trade gap, but the current account deficit may still remain small due to higher net earnings from foreign travel. Consumer price inflation, though edging up due to higher indirect taxes, will remain below an annual rate of 4 percent.
|Year of publication:||
WIFO Monatsberichte (monthly reports). - Österreichisches Institut für Wirtschaftsforschung (WIFO), ISSN 0029-9898. - Vol. 65.1992, 4, p. 149-162
Österreichisches Institut für Wirtschaftsforschung (WIFO)
|Subject:||Prognose für 1992 und 1993. Bau- und Tourismusboom verhindert Wachstumseinbruch | Economic Outlook for 1992 and 1993: Cyclical Downturn Cushioned by Tourism and Construction Boom|
|Description of contents:||Abstract|
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