{"id":149000,"date":"2024-03-21T06:28:59","date_gmt":"2024-03-21T05:28:59","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/149000\/"},"modified":"2024-11-07T02:43:31","modified_gmt":"2024-11-07T01:43:31","slug":"economic-outlook-for-1990-and-1991-stimulus-from-german-unification-cushions-cyclical-slowdown","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/149000\/","title":{"rendered":"Economic Outlook for 1990 and 1991: Stimulus from German Unification Cushions Cyclical Slowdown"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-149000","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Much as expected, demand and output in Austria remained firm throughout 1990. The forecast for annual growth of real GDP is maintained at 4\u00bd percent. Also, projections for other major variables are broadly confirmed by recent developments. Consumer price inflation will likely average 3\u00bc percent, unemployment is rising to almost 5\u00bd percent of the dependent labour force and the current account remains in small surplus. Forward looking indicators like the inflow of orders to industry and survey data on business confidence signal a weakening of activity in 1991, in line with the international trend. Domestic demand will expand at a slower pace. The once-and-for-all boost to net disposable incomes and private consumption from the tax reform is levelling off. However, settlements in the autumn wage round broadly protect real wage gains against the impact of rising inflation and households may be ready to reduce their saving in view of the still encouraging prospects for income and employment. With output close to capacity limits and profits at record levels there are strong incentives for firms to step up capital spending. Yet, the danger of a recession abroad, the Gulf crisis and spreading fragility in financial markets have recently deteriorated the investment climate. WIFO survey results show clearly that entrepreneurs are turning more cautious in judging the business outlook. On the other hand, activity in the construction industry is gaining new momentum. In all, the forecast for 1991 GDP growth is slightly revised downwards to 3\u00bc percent.","onlinedate":"1991-01-01 01:00:00","lang":"German","publication_series":"","publication_date":"19910101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":306437,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"64","monthly_report_pages":"3-16","monthly_report_pages_sort":"3","issue":"1","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44312],"research_groups":[3500],"collaboration":"","persons":[],"persons_data":"[]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>WIFO<\\\/span> (1991). <span>Prognose f\u00fcr 1991. Impulse aus deutscher Wiedervereinigung mildern Konjunkturr\u00fcckgang<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>64<\\\/em>(1), 3-16. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/8005\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/8005<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>WIFO<\\\/span>. <span class=\\\"title\\\"><span>Prognose f\u00fcr 1991. Impulse aus deutscher Wiedervereinigung mildern Konjunkturr\u00fcckgang<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 1991 Jan;64(1):3-16.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{98a053fa3e3f484684cd24f987cdfa29,<\\\/div><div>  title    = \\\"Prognose f{\\\\\\\"u}r 1991. Impulse aus deutscher Wiedervereinigung mildern Konjunkturr{\\\\\\\"u}ckgang\\\",<\\\/div><div>  abstract = \\\"Bis zum Herbst entwickelten sich Nachfrage und Produktion wie erwartet kr{\\\\\\\"a}ftig. Die Prognose f{\\\\\\\"u}r das Wirtschaftswachstum 1990 bleibt daher mit +4\u00bd\\\\% aufrecht. Auch die Sch{\\\\\\\"a}tzung der {\\\\\\\"u}brigen wirtschaftspolitischen Eckdaten erfordert kaum Korrekturen. Da{\\\\ss} {\\\\\\\"O}sterreich nunmehr in den Einflu{\\\\ss} des internationalen Konjunkturabschwungs ger{\\\\\\\"a}t, zeichnet sich in den vorauseilenden Indikatoren schon deutlich ab. Dar{\\\\\\\"u}ber hinaus bergen die Lage auf dem Roh{\\\\\\\"o}lmarkt, die {\\\\\\\"U}bergangskrise in den ehemaligen Oststaaten und die Labilit{\\\\\\\"a}t der internationalen Finanzm{\\\\\\\"a}rkte erhebliche Risiken. Sie sind in den letzten Monaten eher noch gr{\\\\\\\"o}{\\\\ss}er geworden.\\\",<\\\/div><div>  keywords = \\\"Prognose f{\\\\\\\"u}r 1991. Impulse aus deutscher Wiedervereinigung mildern Konjunkturr{\\\\\\\"u}ckgang; Economic Outlook for 1990 and 1991: Stimulus from German Unification Cushions Cyclical Slowdown\\\",<\\\/div><div>  author   = \\\"WIFO\\\",<\\\/div><div>  year     = \\\"1991\\\",<\\\/div><div>  month    = jan,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"64\\\",<\\\/div><div>  pages    = \\\"3--16\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Prognose f\u00fcr 1991. Impulse aus deutscher Wiedervereinigung mildern Konjunkturr\u00fcckgang<\\\/p><p>AU  - WIFO, null<\\\/p><p>PY  - 1991\\\/1<\\\/p><p>Y1  - 1991\\\/1<\\\/p><p>N2  - Bis zum Herbst entwickelten sich Nachfrage und Produktion wie erwartet kr\u00e4ftig. Die Prognose f\u00fcr das Wirtschaftswachstum 1990 bleibt daher mit +4\u00bd% aufrecht. Auch die Sch\u00e4tzung der \u00fcbrigen wirtschaftspolitischen Eckdaten erfordert kaum Korrekturen. Da\u00df \u00d6sterreich nunmehr in den Einflu\u00df des internationalen Konjunkturabschwungs ger\u00e4t, zeichnet sich in den vorauseilenden Indikatoren schon deutlich ab. Dar\u00fcber hinaus bergen die Lage auf dem Roh\u00f6lmarkt, die \u00dcbergangskrise in den ehemaligen Oststaaten und die Labilit\u00e4t der internationalen Finanzm\u00e4rkte erhebliche Risiken. Sie sind in den letzten Monaten eher noch gr\u00f6\u00dfer geworden.<\\\/p><p>AB  - Bis zum Herbst entwickelten sich Nachfrage und Produktion wie erwartet kr\u00e4ftig. Die Prognose f\u00fcr das Wirtschaftswachstum 1990 bleibt daher mit +4\u00bd% aufrecht. Auch die Sch\u00e4tzung der \u00fcbrigen wirtschaftspolitischen Eckdaten erfordert kaum Korrekturen. Da\u00df \u00d6sterreich nunmehr in den Einflu\u00df des internationalen Konjunkturabschwungs ger\u00e4t, zeichnet sich in den vorauseilenden Indikatoren schon deutlich ab. Dar\u00fcber hinaus bergen die Lage auf dem Roh\u00f6lmarkt, die \u00dcbergangskrise in den ehemaligen Oststaaten und die Labilit\u00e4t der internationalen Finanzm\u00e4rkte erhebliche Risiken. Sie sind in den letzten Monaten eher noch gr\u00f6\u00dfer geworden.<\\\/p><p>KW  - Prognose f\u00fcr 1991. Impulse aus deutscher Wiedervereinigung mildern Konjunkturr\u00fcckgang; Economic Outlook for 1990 and 1991: Stimulus from German Unification Cushions Cyclical Slowdown<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 64<\\\/p><p>SP  - 3<\\\/p><p>EP  - 16<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economic Outlook for 1990 and 1991: Stimulus from German Unification Cushions Cyclical Slowdown - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/149000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic Outlook for 1990 and 1991: Stimulus from German Unification Cushions Cyclical Slowdown\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/149000\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T01:43:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/149000\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/149000\\\/\",\"name\":\"Economic Outlook for 1990 and 1991: Stimulus from German Unification Cushions Cyclical Slowdown - 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