Deep, But Short Recession in Austria. Economic Outlook for 2020 and 2021
WIFO Bulletin, 2020, 25(6), pp.45-58
Online since: 11.08.2020 0:00
The measures adopted to contain the COVID-19 pandemic give rise to a recession in Austria. With a slump by 7.0 percent year-on-year,
demand and output will contract even more sharply in 2020 than during the economic and financial market crisis of 2008-09.
Since the trough now appears to have been passed, the recession promises to be short. Nevertheless, GDP will still not be
back to its pre-crisis level by the end of the projection horizon (end of 2021).
Research group:Macroeconomics and European Economic Policy