The international environment continues to weaken, dampening economic activity in Austria noticeably. Notably the euro crisis has contributed to heightened uncertainty. Economic indicators point to a loss of momentum in the second half of the year. Labour market conditions remain tense.

The Austrian economy will not regain significant momentum before 2014. During the forecast period from 2012 until 2016 real GDP will grow by 1.6 percent per year on average. Exports will expand by 5.5 percent per year. Imports, by contrast, will increase by only 5.1 percent. The average...

Austria's unit labour cost position improved thanks to the recovering economy and the related increase in productivity. Per-capita labour costs increased only slightly in manufacturing, while labour productivity per employee saw a greater rise. In general, unit labour costs in Austrian...

Underpinned by expansionary economic policy, global economic activity has stabilised, with world trade expanding vigorously since the summer. In Austria, real GDP grew at a seasonally adjusted quarter-on-quarter rate of 0.9 percent in the third quarter, according to provisional calculations....

The economic crisis has laid open deficiencies in the construction of the European Economic and Monetary Union (EMU). As a consequence, the European Council and the Commission have proposed reforms for the completion of EMU. In a first step towards an integrated Banking Union, a lighter version...

So far it has not been possible to solve the crisis of the European Monetary Union. In recent months it has worsened increasingly and is now placing a drag on global economic activity. A comprehensive solution to the crisis would include the establishment of joint liability for government debt...

Global economic activity continues to weaken. The crisis acts as a drag on the euro area economy. A slowdown is noticeable also in Asia's emerging markets. These developments dampen economic activity in Austria. Growth in the manufacturing industry is slowing. But the construction and services...

WIFO coordinates the interdisciplinary four year research project "Welfare, Wealth and Work for Europe – WWWforEurope" within the 7th Framework Programme funded by the European Commission. The project brings together researchers from 33 scientific institutions in 12 European countries with...

The global economy lost momentum over the course of 2011. In the euro area, economic indicators point to economic stagnation in the first half of 2012. This is also weighing on the Austrian economy. However, there are tentative signs of a stabilisation in economic activity. Nevertheless,...

Global economic activity continues to weaken. The crisis acts as a drag on the euro area economy. A slowdown is noticeable also in Asia's emerging markets. These developments dampen economic activity in Austria. Growth in the manufacturing industry is slowing. But the construction and services...