Recessionary Tendencies Seen in Austria At End of 2014

Austria's real GDP contracted by 0.1 percent in the third quarter compared with the previous quarter. As a result of this development and consistent with the dismal picture painted by the leading indicators for the fourth quarter of 2014, a technical recession lies within the realms of possibility. So far there is no evidence of a subsequent recovery, but the Austrian economy should regain some momentum on the back of the euro weakness and the continued decline in commodity prices.