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Austrian Economy Barely Grew in Third Quarter. Business Cycle Report of November 2008

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  • Sandra Bilek-Steindl

Abstract

The global downturn is also taking hold of Austria. In the third quarter of 2008, Austria's real GDP grew at a seasonally and working day adjusted rate of 0.1 percent quarter-on-quarter (+1.5 percent year-on-year). The export-driven manufacturing sector registered a decline in value added, and activity in the construction sector began to gradually slacken. The demand for equipment investment also fell, and private consumption growth stayed subdued. Inflation remained steady at 3.7 percent in September. With crude oil and agricultural prices falling, the contribution of energy and food to headline inflation has been declining since the summer.

Suggested Citation

  • Sandra Bilek-Steindl, 2008. "Austrian Economy Barely Grew in Third Quarter. Business Cycle Report of November 2008," Austrian Economic Quarterly, WIFO, vol. 13(4), pages 192-199, December.
    • Handle: RePEc:wfo:wquart:y:2008:i:4:p:192-199
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    Keywords

    Business Cycle Report; Austria;

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