The Austrian economy is about to enter a phase of cyclical upturn that should last until 2004, when growth may rise above 3 percent. For 2005 and 2006, a marked slowdown should be expected. The business cycle is determined primarily by international developments exerting a direct impact on...

The European economy grew by 2.8 percent (euro area +3.0 percent) in 1998, the highest rate since 1994. Production and demand peaked in the first half of the year, when export still expanded at a lively pace. At first, the currency crises in South-East Asia had little effect on the EU's foreign...