{"id":426256,"date":"2025-05-20T12:38:16","date_gmt":"2025-05-20T10:38:16","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/426256\/"},"modified":"2025-05-20T12:38:16","modified_gmt":"2025-05-20T10:38:16","slug":"second-year-of-recession-in-austria-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/426256\/","title":{"rendered":"Second Year of Recession in Austria"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-426256","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"The Austrian Economy in 2024","text":"The Austrian economy experienced its second consecutive year of recession in 2024. In addition to the decline in industrial activity, construction and some service sectors also weakened. The budget deficit increased to 4.7 percent of GDP due to the economic downturn and one-off measures. Despite an increase in gross real income, consumer demand from private households was sluggish. After two years of very high inflation, it slowed to an annual average of 2.9 percent in 2024.","onlinedate":"2025-05-20 10:38:17","lang":"English","publication_series":"","publication_date":"20250520","publication_date_year":"","publication_date_full":true,"publication_num_pages":"18","keywords":"[\"Economic development in Austria\"]","jelcodes":"[\"E32\",\"E66\"]","related_publications":"[\"7c48e4d1-54b1-4b76-b84e-ca0e865d0aae\",\"7e0c0ff8-4d70-47dd-aeed-d57adf117ec6\"]","pdf":426259,"zip":null,"link":"","monthly_report":false,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"7","journal":"WIFO Reports on Austria","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44424],"research_groups":[3500,3510],"collaboration":"","persons":[3530,3537,3872,4917,3543,3830],"persons_data":"[{\"personId\":3530,\"personName\":\"Josef Baumgartner\",\"organisationNames\":[]},{\"personId\":3537,\"personName\":\"J\u00fcrgen Bierbaumer\",\"organisationNames\":[]},{\"personId\":3872,\"personName\":\"Sandra Bilek-Steindl\",\"organisationNames\":[]},{\"personId\":4917,\"personName\":\"Benjamin Bittschi\",\"organisationNames\":[]},{\"personId\":3543,\"personName\":\"Christian Glocker\",\"organisationNames\":[]},{\"personId\":3830,\"personName\":\"Margit Schratzenstaller\",\"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>Baumgartner, J.<\\\/span><span>, Bierbaumer, J.<\\\/span><span>, Bilek-Steindl, S.<\\\/span><span>, Bittschi, B.<\\\/span><span>, Glocker, C.<\\\/span><span>, &amp; Schratzenstaller, M.<\\\/span> (2025). <span>Second Year of Recession in Austria: The Austrian Economy in 2024<\\\/span>. <span><em>WIFO Reports on Austria<\\\/em><\\\/span>, (7).<\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Baumgartner J<\\\/span><span>, Bierbaumer J<\\\/span><span>, Bilek-Steindl S<\\\/span><span>, Bittschi B<\\\/span><span>, Glocker C<\\\/span><span>, Schratzenstaller M<\\\/span>. <span class=\\\"title\\\"><span>Second Year of Recession in Austria: <span class=\\\"subtitle\\\">The Austrian Economy in 2024<\\\/span><\\\/span><\\\/span>. <span>WIFO Reports on Austria<\\\/span>. 2025 May 20;(7).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{72c998bc5c304cfd86c03bc0f95ccea9,<\\\/div><div>  title    = \\\"Second Year of Recession in Austria: The Austrian Economy in 2024\\\",<\\\/div><div>  abstract = \\\"The Austrian economy experienced its second consecutive year of recession in 2024. In addition to the decline in industrial activity, construction and some service sectors also weakened. The budget deficit increased to 4.7 percent of GDP due to the economic downturn and one-off measures. Despite an increase in gross real income, consumer demand from private households was sluggish. After two years of very high inflation, it slowed to an annual average of 2.9 percent in 2024.\\\",<\\\/div><div>  keywords = \\\"Economic development in Austria\\\",<\\\/div><div>  author   = \\\"Josef Baumgartner and J{\\\\\\\"u}rgen Bierbaumer and Sandra Bilek-Steindl and Benjamin Bittschi and Christian Glocker and Margit Schratzenstaller\\\",<\\\/div><div>  year     = \\\"2025\\\",<\\\/div><div>  month    = may,<\\\/div><div>  day      = \\\"20\\\",<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Reports on Austria\\\",<\\\/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  - Second Year of Recession in Austria<\\\/p><p>T2  - The Austrian Economy in 2024<\\\/p><p>AU  - Baumgartner, Josef<\\\/p><p>AU  - Bierbaumer, J\u00fcrgen<\\\/p><p>AU  - Bilek-Steindl, Sandra<\\\/p><p>AU  - Bittschi, Benjamin<\\\/p><p>AU  - Glocker, Christian<\\\/p><p>AU  - Schratzenstaller, Margit<\\\/p><p>PY  - 2025\\\/5\\\/20<\\\/p><p>Y1  - 2025\\\/5\\\/20<\\\/p><p>N2  - The Austrian economy experienced its second consecutive year of recession in 2024. In addition to the decline in industrial activity, construction and some service sectors also weakened. The budget deficit increased to 4.7 percent of GDP due to the economic downturn and one-off measures. Despite an increase in gross real income, consumer demand from private households was sluggish. After two years of very high inflation, it slowed to an annual average of 2.9 percent in 2024.<\\\/p><p>AB  - The Austrian economy experienced its second consecutive year of recession in 2024. In addition to the decline in industrial activity, construction and some service sectors also weakened. The budget deficit increased to 4.7 percent of GDP due to the economic downturn and one-off measures. Despite an increase in gross real income, consumer demand from private households was sluggish. After two years of very high inflation, it slowed to an annual average of 2.9 percent in 2024.<\\\/p><p>KW  - Economic development in Austria<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Reports on Austria<\\\/p><p>JF  - WIFO Reports on Austria<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[\"Einsiedl Martina\",\"Glauninger Ursula\",\"Kaufmann Christine\",\"Steiner Martha\",\"Steininger Doris\",\"Sutrich Andrea\"]","scientific_review":"[\"Schiman-Vukan Stefan\"]","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>Second Year of Recession in Austria - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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