{"id":263010,"date":"2024-04-25T03:48:36","date_gmt":"2024-04-25T01:48:36","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/263010\/"},"modified":"2024-04-26T10:19:48","modified_gmt":"2024-04-26T08:19:48","slug":"economic-outlook-for-2021-and-2022-fourth-covid-19-wave-slows-strong-upswing-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/263010\/","title":{"rendered":"Economic Outlook for 2021 and 2022: Fourth COVID 19 Wave Slows Strong Upswing"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-263010","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Value added in Austria grew significantly in the second quarter 2021, especially in the crisis-hit sectors. However, growth weakened again with the increase in the incidence of infections from August 2021. The renewed COVID 19 wave will again dampen the catch-up process in certain service sectors in the fourth quarter. The economic upswing is, hence, heterogeneous across sectors, but it is extremely strong overall. The labour market is also recovering rapidly but will suffer a temporary setback from the fourth COVID 19 wave. At the same time, inflation will con-tinue to accelerate, while monetary policy \u2013 in line with the ECB's new strategy \u2013 will remain expansionary.","onlinedate":"2021-10-08 10:30:00","lang":"German","publication_series":"","publication_date":"20211001","publication_date_year":"","publication_date_full":false,"publication_num_pages":"38","keywords":"[\"WIFO-Konjunkturprognose\"]","jelcodes":"[]","related_publications":"[]","pdf":263752,"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":"2021-10-08 10:30:00","types":[44368],"research_groups":[3500],"collaboration":"","persons":[3865],"persons_data":"[{\"personId\":3865,\"personName\":\"Stefan Schiman\",\"organisationNames\":[]}]","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>Schiman, S.<\\\/span> (2021). <span>Prognose f\u00fcr 2021 und 2022: Vierte COVID-19-Welle bremst kr\u00e4ftigen Aufschwung<\\\/span>. <span><em>WIFO-Konjunkturprognose<\\\/em><\\\/span>.<\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Schiman S<\\\/span>. <span class=\\\"title\\\"><span>Prognose f\u00fcr 2021 und 2022: Vierte COVID-19-Welle bremst kr\u00e4ftigen Aufschwung<\\\/span><\\\/span>. <span>WIFO-Konjunkturprognose<\\\/span>. 2021 Oct.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{e0239c26143940ffa3d4b4a4bb4ed1e1,<\\\/div><div>  title    = \\\"Prognose f{\\\\\\\"u}r 2021 und 2022: Vierte COVID-19-Welle bremst kr{\\\\\\\"a}ftigen Aufschwung\\\",<\\\/div><div>  abstract = \\\"Die Wertsch{\\\\\\\"o}pfung in {\\\\\\\"O}sterreich wuchs im II. Quartal 2021 insbesondere in den krisengesch{\\\\\\\"u}ttelten Branchen deutlich. Mit der Zunahme des Infektionsgeschehens ab August 2021 schw{\\\\\\\"a}chte sich das Wachstum aber wieder ab. Die neuerliche COVID-19-Welle wird den Aufholprozess in bestimmten Dienstleistungsbranchen im IV. Quartal abermals d{\\\\\\\"a}mpfen. Der Konjunkturaufschwung verl{\\\\\\\"a}uft demnach sektoral heterogen, ist jedoch insgesamt {\\\\\\\"a}u{\\\\ss}erst kr{\\\\\\\"a}ftig. Auch der Arbeitsmarkt erholt sich z{\\\\\\\"u}gig, wird durch die vierte COVID-19-Welle aber vor{\\\\\\\"u}bergehend einen R{\\\\\\\"u}ckschlag erleiden. Zugleich wird sich der Preisauftrieb weiter beschleunigen, w{\\\\\\\"a}hrend die Geldpolitik \u2013 der neuen Strategie der EZB entsprechend \u2013 expansiv bleibt.\\\",<\\\/div><div>  keywords = \\\"WIFO-Konjunkturprognose, WIFO-Konjunkturprognose\\\",<\\\/div><div>  author   = \\\"Stefan Schiman\\\",<\\\/div><div>  note     = \\\"WIFO-Konjunkturprognose vom Oktober 2021\\\",<\\\/div><div>  year     = \\\"2021\\\",<\\\/div><div>  month    = oct,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  journal  = \\\"WIFO-Konjunkturprognose\\\",<\\\/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 2021 und 2022: Vierte COVID-19-Welle bremst kr\u00e4ftigen Aufschwung<\\\/p><p>AU  - Schiman, Stefan<\\\/p><p>N1  - WIFO-Konjunkturprognose vom Oktober 2021<\\\/p><p>PY  - 2021\\\/10<\\\/p><p>Y1  - 2021\\\/10<\\\/p><p>N2  - Die Wertsch\u00f6pfung in \u00d6sterreich wuchs im II. Quartal 2021 insbesondere in den krisengesch\u00fcttelten Branchen deutlich. Mit der Zunahme des Infektionsgeschehens ab August 2021 schw\u00e4chte sich das Wachstum aber wieder ab. Die neuerliche COVID-19-Welle wird den Aufholprozess in bestimmten Dienstleistungsbranchen im IV. Quartal abermals d\u00e4mpfen. Der Konjunkturaufschwung verl\u00e4uft demnach sektoral heterogen, ist jedoch insgesamt \u00e4u\u00dferst kr\u00e4ftig. Auch der Arbeitsmarkt erholt sich z\u00fcgig, wird durch die vierte COVID-19-Welle aber vor\u00fcbergehend einen R\u00fcckschlag erleiden. Zugleich wird sich der Preisauftrieb weiter beschleunigen, w\u00e4hrend die Geldpolitik \u2013 der neuen Strategie der EZB entsprechend \u2013 expansiv bleibt.<\\\/p><p>AB  - Die Wertsch\u00f6pfung in \u00d6sterreich wuchs im II. Quartal 2021 insbesondere in den krisengesch\u00fcttelten Branchen deutlich. Mit der Zunahme des Infektionsgeschehens ab August 2021 schw\u00e4chte sich das Wachstum aber wieder ab. Die neuerliche COVID-19-Welle wird den Aufholprozess in bestimmten Dienstleistungsbranchen im IV. Quartal abermals d\u00e4mpfen. Der Konjunkturaufschwung verl\u00e4uft demnach sektoral heterogen, ist jedoch insgesamt \u00e4u\u00dferst kr\u00e4ftig. Auch der Arbeitsmarkt erholt sich z\u00fcgig, wird durch die vierte COVID-19-Welle aber vor\u00fcbergehend einen R\u00fcckschlag erleiden. Zugleich wird sich der Preisauftrieb weiter beschleunigen, w\u00e4hrend die Geldpolitik \u2013 der neuen Strategie der EZB entsprechend \u2013 expansiv bleibt.<\\\/p><p>KW  - WIFO-Konjunkturprognose<\\\/p><p>KW  - WIFO-Konjunkturprognose<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>JO  - WIFO-Konjunkturprognose<\\\/p><p>JF  - WIFO-Konjunkturprognose<\\\/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 2021 and 2022: Fourth COVID 19 Wave Slows Strong Upswing - 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\/263010\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economic Outlook for 2021 and 2022: Fourth COVID 19 Wave Slows Strong Upswing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/263010\/\" \/>\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=\"2024-04-26T08:19:48+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\\\/263010\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/263010\\\/\",\"name\":\"Economic Outlook for 2021 and 2022: Fourth COVID 19 Wave Slows Strong Upswing - 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