{"id":49445,"date":"2023-11-20T15:50:52","date_gmt":"2023-11-20T14:50:52","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/vertiefung-der-rezession-bei-steigenden-zinsen-und-hoher-inflation-2\/"},"modified":"2024-04-21T12:01:11","modified_gmt":"2024-04-21T10:01:11","slug":"vertiefung-der-rezession-bei-steigenden-zinsen-und-hoher-inflation-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/49445\/","title":{"rendered":"Deepening Recession with Rising Interest Rates and High Inflation"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-49445","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Austria's GDP contracted by 1.1 percent year-on-year in the second quarter of 2023. The further deterioration of sentiment indicators does not suggest an imminent turnaround. The inflation gap to the euro area increased again in August after a temporary decline. The domestic labour market is currently characterised by a strong expansion of foreign labour supply. Contrary to public perception, savings interest rates have risen more strongly than lending rates since the ECB's interest rate reversal. At the same time, domestic banks have been able to significantly increase their net interest income. This is partly due to the high share of variable-rate housing loans.","onlinedate":"2023-10-16 12:00:00","lang":"German","publication_series":"","publication_date":"20230901","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Konjunkturbericht\"]","jelcodes":"[\"E32\",\"E66\"]","related_publications":"[\"4414254c-2108-43bb-87f0-855740e2fc44\"]","pdf":257391,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"96","monthly_report_pages":"571-580","monthly_report_pages_sort":"571","issue":"9","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":"2023-10-16 00:00:00","types":[44312],"research_groups":[3500],"collaboration":"","persons":[3865],"persons_data":"[{\"personId\":3865,\"personName\":\"Stefan Schiman-Vukan\",\"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\":\"
Schiman-Vukan, S.<\\\/span> (2023). Vertiefung der Rezession bei steigenden Zinsen und hoher Inflation<\\\/span>. WIFO-Monatsberichte<\\\/em><\\\/span>, 96<\\\/em>(9), 571-580.<\\\/div>\",\"vancouver\":\"
Schiman-Vukan S<\\\/span>. Vertiefung der Rezession bei steigenden Zinsen und hoher Inflation<\\\/span><\\\/span>. WIFO-Monatsberichte<\\\/span>. 2023 Sept;96(9):571-580.<\\\/div>\",\"bibtex\":\"
@misc{2536e67f876747cca69e0f4078162c6a,<\\\/div>
title = \\\"Vertiefung der Rezession bei steigenden Zinsen und hoher Inflation\\\",<\\\/div>
abstract = \\\"{\\\\\\\"O}sterreichs BIP schrumpfte im II. Quartal 2023 um 1,1\\\\% gegen{\\\\\\\"u}ber dem Vorjahr. Die weitere Verschlechterung der unternehmerischen Konjunktureinsch{\\\\\\\"a}tzungen l{\\\\\\\"a}sst keine baldige Trendwende erwarten. Der Inflationsabstand zum Euro-Raum nahm im August nach einem vor{\\\\\\\"u}bergehenden R{\\\\\\\"u}ckgang wieder zu. Der heimische Arbeitsmarkt ist derzeit von einer kr{\\\\\\\"a}ftigen Ausweitung des ausl{\\\\\\\"a}ndischen Arbeitskr{\\\\\\\"a}fteangebots gepr{\\\\\\\"a}gt. Entgegen der {\\\\\\\"o}ffentlichen Wahrnehmung sind die Sparzinss{\\\\\\\"a}tze seit der Zinswende der EZB st{\\\\\\\"a}rker gestiegen als die Kreditzinss{\\\\\\\"a}tze. Zugleich konnten heimische Banken ihre Nettozinsertr{\\\\\\\"a}ge deutlich ausweiten. Dies h{\\\\\\\"a}ngt u. a. mit dem hohen Anteil variabel verzinster Wohnbaukredite zusammen.\\\",<\\\/div>
keywords = \\\"Konjunkturbericht, Konjunkturbericht\\\",<\\\/div>
author = \\\"Stefan Schiman-Vukan\\\",<\\\/div>
note = \\\"Konjunkturbericht\\\",<\\\/div>
year = \\\"2023\\\",<\\\/div>
month = sep,<\\\/div>
language = \\\"Deutsch\\\",<\\\/div>
volume = \\\"96\\\",<\\\/div>
pages = \\\"571--580\\\",<\\\/div>
journal = \\\"WIFO-Monatsberichte\\\",<\\\/div>

}<\\\/p><\\\/div>\",\"ris\":\"

TY - GEN<\\\/p>

T1 - Vertiefung der Rezession bei steigenden Zinsen und hoher Inflation<\\\/p>

AU - Schiman-Vukan, Stefan<\\\/p>

N1 - Konjunkturbericht<\\\/p>

PY - 2023\\\/9<\\\/p>

Y1 - 2023\\\/9<\\\/p>

N2 - \u00d6sterreichs BIP schrumpfte im II. Quartal 2023 um 1,1% gegen\u00fcber dem Vorjahr. Die weitere Verschlechterung der unternehmerischen Konjunktureinsch\u00e4tzungen l\u00e4sst keine baldige Trendwende erwarten. Der Inflationsabstand zum Euro-Raum nahm im August nach einem vor\u00fcbergehenden R\u00fcckgang wieder zu. Der heimische Arbeitsmarkt ist derzeit von einer kr\u00e4ftigen Ausweitung des ausl\u00e4ndischen Arbeitskr\u00e4fteangebots gepr\u00e4gt. Entgegen der \u00f6ffentlichen Wahrnehmung sind die Sparzinss\u00e4tze seit der Zinswende der EZB st\u00e4rker gestiegen als die Kreditzinss\u00e4tze. Zugleich konnten heimische Banken ihre Nettozinsertr\u00e4ge deutlich ausweiten. Dies h\u00e4ngt u. a. mit dem hohen Anteil variabel verzinster Wohnbaukredite zusammen.<\\\/p>

AB - \u00d6sterreichs BIP schrumpfte im II. Quartal 2023 um 1,1% gegen\u00fcber dem Vorjahr. Die weitere Verschlechterung der unternehmerischen Konjunktureinsch\u00e4tzungen l\u00e4sst keine baldige Trendwende erwarten. Der Inflationsabstand zum Euro-Raum nahm im August nach einem vor\u00fcbergehenden R\u00fcckgang wieder zu. Der heimische Arbeitsmarkt ist derzeit von einer kr\u00e4ftigen Ausweitung des ausl\u00e4ndischen Arbeitskr\u00e4fteangebots gepr\u00e4gt. Entgegen der \u00f6ffentlichen Wahrnehmung sind die Sparzinss\u00e4tze seit der Zinswende der EZB st\u00e4rker gestiegen als die Kreditzinss\u00e4tze. Zugleich konnten heimische Banken ihre Nettozinsertr\u00e4ge deutlich ausweiten. Dies h\u00e4ngt u. a. mit dem hohen Anteil variabel verzinster Wohnbaukredite zusammen.<\\\/p>

KW - Konjunkturbericht<\\\/p>

KW - Konjunkturbericht<\\\/p>

M3 - WIFO-Schriftenreihen<\\\/p>

VL - 96<\\\/p>

SP - 571<\\\/p>

EP - 580<\\\/p>

JO - WIFO-Monatsberichte<\\\/p>

JF - WIFO-Monatsberichte<\\\/p>

ER - <\\\/p><\\\/div>\"}","scientific_assistance":"[\"Czaloun Astrid\",\"Kaufmann Christine\",\"Steiner Martha\"]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"\nDeepening Recession with Rising Interest Rates and High Inflation - 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\/49445\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deepening Recession with Rising Interest Rates and High Inflation\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/49445\/\" \/>\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=\"2024-04-21T10:01:11+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\\\/49445\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/49445\\\/\",\"name\":\"Deepening Recession with Rising Interest Rates and High Inflation - 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