Austria's Economy Remains in Crisis

Industry and construction remain weak in Austria. An improvement in the situation is not yet in sight. If the economic slump continues, the longest recession in the last 25 years is looming. The producing sector is also holding back real GDP growth in the euro area; recently, only economies with a large services sector have been able to post slight gains. Inflation continues to fall. Private consumption in Austria is disappointing in view of the strong growth in real incomes.