{"id":55315,"date":"2023-12-01T18:44:06","date_gmt":"2023-12-01T17:44:06","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/subdued-recovery-after-strong-rebound-economic-outlook-for-2020-and-2021\/"},"modified":"2024-11-07T06:22:37","modified_gmt":"2024-11-07T05:22:37","slug":"subdued-recovery-after-strong-rebound-economic-outlook-for-2020-and-2021","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/55315\/","title":{"rendered":"Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-55315","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"In spring, the global economy suffered a massive slump due to the pandemic-related protective measures. The loss in value added was partially made up in the summer; in Austria, value added in the third quarter is likely to have grown by more than 10 percent compared with the previous quarter. About half of the crisis-related rise in unemployment was reduced by September. In the fourth quarter, however, economic momentum will slow down markedly as a result of expiring rebound effects (the unwinding of the consumption backlog) and an increase in the number of infections. For 2020, GDP is forecast to fall by 6.8 percent overall compared with 2019, and rise by 4.4 percent in 2021. A new lockdown in autumn could reduce these rates by 2.5 and 4.0 percentage points respectively.","onlinedate":"2020-11-18 12:00:00","lang":"English","publication_series":"","publication_date":"20201101","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Business Cycle\",\"Economic Outlook\",\"Forecast\"]","jelcodes":"[]","related_publications":"[]","pdf":385255,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"25","monthly_report_pages":"87-100","monthly_report_pages_sort":"87","issue":"10","journal":"WIFO Bulletin","publisher":"","invisible":false,"external":false,"embargo_date":"2020-11-18 12:00:00","types":[50590],"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> (2020). <span>Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021<\\\/span>. <span><em>WIFO Bulletin<\\\/em><\\\/span>, <em>25<\\\/em>(10), 87-100. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/66630\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/66630<\\\/span><\\\/a><\\\/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>Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021<\\\/span><\\\/span>. <span>WIFO Bulletin<\\\/span>. 2020 Nov;25(10):87-100.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{35ec92050a784e8e84cf29a08fd1fa7a,<\\\/div><div>  title    = \\\"Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021\\\",<\\\/div><div>  abstract = \\\"In spring, the global economy suffered a massive slump due to the pandemic-related protective measures. The loss in value added was partially made up in the summer; in Austria, value added in the third quarter is likely to have grown by more than 10 percent compared with the previous quarter. About half of the crisis-related rise in unemployment was reduced by September. In the fourth quarter, however, economic momentum will slow down markedly as a result of expiring rebound effects (the unwinding of the consumption backlog) and an increase in the number of infections. For 2020, GDP is forecast to fall by 6.8 percent overall compared with 2019, and rise by 4.4 percent in 2021. A new lockdown in autumn could reduce these rates by 2.5 and 4.0 percentage points respectively.\\\",<\\\/div><div>  keywords = \\\"Business Cycle, Economic Outlook, Forecast, Business Cycle, Economic Outlook, Forecast\\\",<\\\/div><div>  author   = \\\"Stefan Schiman\\\",<\\\/div><div>  note     = \\\"Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021\\\",<\\\/div><div>  year     = \\\"2020\\\",<\\\/div><div>  month    = nov,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"25\\\",<\\\/div><div>  pages    = \\\"87--100\\\",<\\\/div><div>  journal  = \\\"WIFO Bulletin\\\",<\\\/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  - Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021<\\\/p><p>AU  - Schiman, Stefan<\\\/p><p>N1  - Subdued Recovery After Strong Rebound. Economic Outlook for 2020 and 2021<\\\/p><p>PY  - 2020\\\/11<\\\/p><p>Y1  - 2020\\\/11<\\\/p><p>N2  - In spring, the global economy suffered a massive slump due to the pandemic-related protective measures. The loss in value added was partially made up in the summer; in Austria, value added in the third quarter is likely to have grown by more than 10 percent compared with the previous quarter. About half of the crisis-related rise in unemployment was reduced by September. In the fourth quarter, however, economic momentum will slow down markedly as a result of expiring rebound effects (the unwinding of the consumption backlog) and an increase in the number of infections. For 2020, GDP is forecast to fall by 6.8 percent overall compared with 2019, and rise by 4.4 percent in 2021. A new lockdown in autumn could reduce these rates by 2.5 and 4.0 percentage points respectively.<\\\/p><p>AB  - In spring, the global economy suffered a massive slump due to the pandemic-related protective measures. The loss in value added was partially made up in the summer; in Austria, value added in the third quarter is likely to have grown by more than 10 percent compared with the previous quarter. 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