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Sluggish Recovery in 2003. Economic Outlook for 2003 and 2004

Author

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  • Ewald Walterskirchen

    (WIFO)

Abstract

Economic activity in Austria will pick up only gradually in 2003. Business and consumer expectations are improving hesitantly, given the high risks in financial, real estate and energy markets. Growth of GDP is projected at 1¾ percent for 2003, following the less than 1 percent in 2002. The slow pace of growth, remaining below the medium-term trend, will prevent both unemployment and the budget deficit from shrinking in 2003.

Suggested Citation

  • Ewald Walterskirchen, 2003. "Sluggish Recovery in 2003. Economic Outlook for 2003 and 2004," Austrian Economic Quarterly, WIFO, vol. 8(1), pages 1-11, February.
    • Handle: RePEc:wfo:wquart:y:2003:i:1:p:1-11
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