{"id":262966,"date":"2024-01-22T17:37:57","date_gmt":"2024-01-22T16:37:57","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/262966\/"},"modified":"2024-11-07T07:35:28","modified_gmt":"2024-11-07T06:35:28","slug":"the-european-economy-in-recession-domestic-policy-action-cushioning-the-downturn-economic-outlook-for-2009-and-2010-3","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/262966\/","title":{"rendered":"The European Economy in Recession \u2013 Domestic Policy Action Cushioning the Downturn. Economic Outlook for 2009 and 2010"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-262966","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Starting from the USA, the economic downturn has meanwhile reached the entire world economy. The financial crisis is exacerbating the slackening of global business activity. In the euro area, demand and output are set to contract by 1.2 percent in 2009. In Austria, too, real GDP is likely to edge down by 0.5 percent, despite powerful stimulus provided by fiscal policy. The projection for growth picking up by 0.9 percent on annual average 2010 is based on the assumption that activity will gradually recover as from late 2009.","onlinedate":"2009-01-15 01:00:00","lang":"English","publication_series":"","publication_date":"20081201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"14","keywords":"[]","jelcodes":"[]","related_publications":"[]","pdf":410764,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"","journal":"WIFO-Konjunkturprognose","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44368],"research_groups":[3500],"collaboration":"","persons":[3837],"persons_data":"[{\"personId\":3837,\"personName\":\"Marcus Scheiblecker\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","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 v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The European Economy in Recession \u2013 Domestic Policy Action Cushioning the Downturn. Economic Outlook for 2009 and 2010 - 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\/262966\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The European Economy in Recession \u2013 Domestic Policy Action Cushioning the Downturn. 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