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05.11.2020

Effects of the Second Lockdown in Austria

Recent WIFO Research Brief on the Macroeconomic Development During the COVID-19 Crisis
The economy is expected to shrink by 7.7 percent in 2020, instead of 6.8 percent as forecast in October. 0.6 percentage points of this additional slump are attributable to the hotel and restaurant sector, the rest mainly to (voluntary) consumption cuts in other sectors. In 2021, GDP is expected to expand by only 2.8 percent instead of 4.4 percent according to the WIFO forecast of October.

The GDP contribution from hotels and restaurants, however, will increase by 0.3 percentage points. While tourism should benefit from the current tightening next year, there will be negative consequences for the economy as a whole.
 

Publications

WIFO Research Briefs
05.11.2020
Macroeconomic Effects of the Second Lockdown in Austria
Download (PDF)
Finalization: November 2020
Specialist publication: WIFO Research Briefs

Please contact

Mag. Dr. Josef Baumgartner
Mag. Dr. Josef Baumgartner
Macroeconomics and Public Finance
+43 1 798 26 01 - 230 josef.baumgartner@wifo.ac.at
apl. Prof. Dr. Hans Pitlik
apl. Prof. Dr. Hans Pitlik
Macroeconomics and Public Finance
+43 1 798 26 01 - 240 hans.pitlik@wifo.ac.at
Dr. Stefan Schiman-Vukan, MSc
Dr. Stefan Schiman-Vukan, MSc
Macroeconomics and Public Finance
+43 1 798 26 01 - 234 stefan.schiman-vukan@wifo.ac.at

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