Boom in Asia, Slow Recovery in EU and Austria

Austria's economy stagnated in the first quarter of 2010 compared with both the fourth quarter of 2009 (–0.1 percent) and the previous year (+0.2 percent). Stimulus was provided by exports to Germany, hence indirectly by buoyant economic growth in Asia and expanding world trade. Domestic consumer demand is rising at a steady, albeit moderate pace. Investments continue to decline, a self-sustaining recovery in investment has not got off the ground as yet. Labour market conditions are improving steadily. Consumer prices are rising, mainly as a result of price increases for commodities.