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Boom in Asia, Slow Recovery in the EU and Austria. Business Cycle Report of June 2010

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  • Markus Marterbauer

    (WIFO)

Abstract

While the economy has indeed stabilised after its deep slump from mid-2008 to mid-2009, the recovery has not yet gained traction. In the first quarter of 2010, Austria's economy stagnated compared with both the fourth quarter of 2009 (–0.1 percent) and the previous year (+0.2 percent). Stimulus was provided by exports to Germany, hence indirectly by buoyant economic growth in Asia and expanding world trade. Domestic consumer demand is rising at a steady, albeit moderate pace (+¼ percent, compared with the previous quarter). Investment on equipment and buildings has been declining for eight quarters; a self-sustaining recovery in investment has not got off the ground as yet. Labour market conditions are improving steadily. Consumer prices are rising, mainly as a result of price increases for commodities.

Suggested Citation

  • Markus Marterbauer, 2010. "Boom in Asia, Slow Recovery in the EU and Austria. Business Cycle Report of June 2010," Austrian Economic Quarterly, WIFO, vol. 15(2), pages 155-164, July.
    • Handle: RePEc:wfo:wquart:y:2010:i:2:p:155-164
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    Cited by:

    1. Jürgen Janger & Michael Böheim & Martin Falk & Rahel Falk & Werner Hölzl & Daniela Kletzan-Slamanig & Michael Peneder & Andreas Reinstaller & Fabian Unterlass & Gunther Tichy, 2010. "Research and Innovation Policy after the Crisis," Austrian Economic Quarterly, WIFO, vol. 15(4), pages 321-335, December.

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