Industrial Production Booming, Consumer Demand Subdued

The boom in the export-oriented industry and in the construction industry is driving economic growth. While evidence from the monthly business cycle survey conducted by WIFO suggests a stabilisation of growth in the months to come, there is no indication of a deceleration. Consumption and trade, on the other hand, continue to be sluggish; their stimulation is a necessary prerequisite of a strong sustained boom. The noticeable decline in unemployment is the result of accelerating economic growth, the mild weather and the high number of persons enrolled in training programmes.