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Economic Recovery Surrounded by Risks. Economic Outlook for 2002 and 2003

Author

Listed:
  • Ewald Walterskirchen

    (WIFO)

Abstract

The business cycle should have reached its lower turning point in the first quarter, and a recovery is expected to gather momentum from now. Because of the negative carry-over from last year, GDP growth on annual average 2002 may not exceed 1.2 percent, accelerating to 2.8 percent in 2003. While the upswing receives its major stimulus from abroad, the international environment also holds the major risks to the recovery. The effects of slow growth will continue to weigh on the labour market and on public finances in 2002, before some relief should become visible in 2003.

Suggested Citation

  • Ewald Walterskirchen, 2002. "Economic Recovery Surrounded by Risks. Economic Outlook for 2002 and 2003," Austrian Economic Quarterly, WIFO, vol. 7(3), pages 98-108, July.
    • Handle: RePEc:wfo:wquart:y:2002:i:3:p:98-108
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