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Austrian Economy Experiencing Upswing. Business Cycle Report of August 2010

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  • Marcus Scheiblecker

Abstract

Following stagnation at the beginning of the year, the Austrian economy grew at a vigorous pace in the second quarter (+0.9 percent in real terms, quarter-on-quarter). This development was driven by external demand: in April and May, the value of goods exports rose by more than 10 percent each, year-on-year. The construction industry, on the other hand, has not yet overcome the crisis, although the downward trend has recently weakened. The domestic labour market continued on its trend of improvement also in July. Unemployment declined further, and employment increased yet again.

Suggested Citation

  • Marcus Scheiblecker, 2010. "Austrian Economy Experiencing Upswing. Business Cycle Report of August 2010," Austrian Economic Quarterly, WIFO, vol. 15(3), pages 259-267, September.
    • Handle: RePEc:wfo:wquart:y:2010:i:3:p:259-267
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