The WIFO Business Cycle Survey serves as an important early-indication tool for the economic situation in Austria. Using a Markov regime-switching model, it is possible to determine at an early point in time whether the business cycle is in its upward or downward mode. Regime probabilities are...

Economic output stagnated in the fourth quarter of 2014 compared with the previous quarter, according to WIFO Quarterly National Accounts. Compared with a year before, the decline was 0.2 percent. For 2014 as a whole, economic growth was 0.3 percent. The slight increase in the impetus provided...

After the slow pace recorded in 2014, growth of the Austrian economy is likely to remain modest also in early 2015. Leading indicators to date give no substantial hint for a revival of business activity. Hence, the conditions for a cyclical recovery during the first half of the year are hardly...

Die heimische Wirtschaftsleistung ging im IV. Quartal 2011 leicht zurück. Die Wachstumsdämpfung ist vor allem auf eine schwache Weltwirtschaft und die damit reduzierten internationalen Kapital- und Handelsströme zurückzuführen. Das hohe Maß an makrofinanziellen Risiken hält weiter an. Die...

Recent institutional changes in the European Union have strengthened the original Stability and Growth Pact by negotiating the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union ("fiscal compact"). The cyclically-adjusted budget balance is the main quantitative...

Im IV. Quartal 2012 ging die heimische Wirtschaftsleistung leicht zurück. Die Wachstumsdämpfung ist vor allem auf die Schwäche der Weltwirtschaft und die damit verbundene Verringerung der internationalen Kapital- und Handelsströme zurückzuführen. Anfang 2013 zog die Weltkonjunktur wieder...

Real GDP in Austria expanded by 0.2 percent in the first quarter of 2014 compared with the previous quarter. The upturn did not accelerate further, but it did strengthen. Economic growth, which is buttressed by broad-based demand, is increasingly receiving stimulus from abroad. Global economic...

Short-term prospects for the Austrian economy have little changed since the last revision of the WIFO forecast three months ago. Output in the first quarter 2014 grew as expected, albeit somewhat less than in the fourth quarter 2013. Latest leading indicators have been slightly less strong than...

Die Konjunktur hat sich im 2. Halbjahr 2012 deutlich abgeschwächt. Die Vorlaufindikatoren deuten aber bereits auf ein Ende der Abwärtsbewegung hin. Zwar sind die Signale bisher relativ gering, sie sind jedoch in einer Vielzahl von Determinanten zu erkennen. Die heimische Volkswirtschaft wird...

While short-term prospects for the Austrian economy have weakened since last June's forecast revision, the pattern of risks is somewhat uneven as external downward risks slightly dominate domestic upward risks. Against this background, Austria's GDP is expected to grow by 0.6 percent in 2012 and...