The Economic Outlook for 1992 and 1993: Further Weakening of Activity Unlikely
Real GDP is now expected to grow by 2.2 percent in 1992, up a little from earlier forecasts. The risk that the recessionary forces from abroad would kick the Austrian economy off the growth track has virtually disappeared in recent months. A general and self-sustained upswing in Western Europe will not set in before 1992. Austria should be able to fully participate via a rebound in exports and attain a GDP growth rate of 3 percent. Despite Austria maintaining its growth advantage vis-à-vis OECD Europe the current account will stay in equilibrum. Consumer price inflation will average 4 percent in 1992, up from 3¼ percent last year. The labour market has so far proved very resistent to the cyclical weakness. The jobless rate is likely to remain just below 6 percent of the dependent labour force.
|Year of publication:||
WIFO Monatsberichte (monthly reports). - Österreichisches Institut für Wirtschaftsforschung (WIFO), ISSN 0029-9898. - Vol. 65.1992, 7, p. 343-355
Österreichisches Institut für Wirtschaftsforschung (WIFO)
|Subject:||Prognose für 1992 und 1993. Wachstumsprognose besser abgesichert | The Economic Outlook for 1992 and 1993: Further Weakening of Activity Unlikely|
|Description of contents:||Abstract|
|Type of publication:||Article|
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