Cyclical Recovery Expected to Proceed Smoothly. Economic Outlook for 2002 and 2003

  • Ewald Walterskirchen

The business cycle recovery in the USA will give early incentives to activity in Europe during the first half of 2001, leading to a marked revival of demand and output growth. Such expectations are confirmed by survey results and statistical data collected over the past few months. The WIFO projection for economic growth from last December may therefore remain unchanged.