{"id":56509,"date":"2023-12-01T19:03:11","date_gmt":"2023-12-01T18:03:11","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/strongest-slump-in-gdp-since-1945\/"},"modified":"2024-04-20T07:10:42","modified_gmt":"2024-04-20T05:10:42","slug":"strongest-slump-in-gdp-since-1945","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/56509\/","title":{"rendered":"Strongest Slump in GDP since 1945"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-56509","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"The Austrian Economy in 2020","text":"Economic development in 2020 was driven by the COVID-19 pandemic and the restrictions imposed to contain it. The Austrian economy recorded a massive slump. Private consumption was hit particularly hard, as were tourism, transport, trade, personal services and cultural and leisure facilities. The expansion of short-time working regimes supported per capita incomes. The COVID-19 crisis also had an impact on inflation, with unprocessed food and services becoming more expensive, while petroleum products dampened price increases.","onlinedate":"2021-05-28 12:00:00","lang":"English","publication_series":"","publication_date":"20210501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"17","keywords":"[\"Business cycle report\"]","jelcodes":"[\"E32\",\"E66\"]","related_publications":"[]","pdf":247655,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"6","journal":"WIFO Reports on Austria","publisher":"","invisible":false,"external":false,"embargo_date":"2021-05-28 00:00:00","types":[44424],"research_groups":[3500,3510],"collaboration":"","persons":[3530,3537,3872,3698,4245],"persons_data":"[{\"personId\":3530,\"personName\":\"Josef Baumgartner\",\"organisationNames\":[]},{\"personId\":3537,\"personName\":\"J\u00fcrgen Bierbaumer\",\"organisationNames\":[]},{\"personId\":3872,\"personName\":\"Sandra Bilek-Steindl\",\"organisationNames\":[]},{\"personId\":3698,\"personName\":\"Christine Mayrhuber\",\"organisationNames\":[]},{\"personId\":4245,\"personName\":\"Silvia Rocha-Akis\",\"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>, Mayrhuber, C.<\\\/span><span>, &amp; Rocha-Akis, S.<\\\/span> (2021). <span>Strongest Slump in GDP since 1945: The Austrian Economy in 2020<\\\/span>. <span><em>WIFO Reports on Austria<\\\/em><\\\/span>, (6).<\\\/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>, Mayrhuber C<\\\/span><span>, Rocha-Akis S<\\\/span>. <span class=\\\"title\\\"><span>Strongest Slump in GDP since 1945: <span class=\\\"subtitle\\\">The Austrian Economy in 2020<\\\/span><\\\/span><\\\/span>. <span>WIFO Reports on Austria<\\\/span>. 2021 May;(6).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{6362e075a1654c86ac0f5fc7df5dc78e,<\\\/div><div>  title    = \\\"Strongest Slump in GDP since 1945: The Austrian Economy in 2020\\\",<\\\/div><div>  abstract = \\\"Economic development in 2020 was driven by the COVID-19 pandemic and the restrictions imposed to contain it. The Austrian economy recorded a massive slump. Private consumption was hit particularly hard, as were tourism, transport, trade, personal services and cultural and leisure facilities. The expansion of short-time working regimes supported per capita incomes. The COVID-19 crisis also had an impact on inflation, with unprocessed food and services becoming more expensive, while petroleum products dampened price increases.\\\",<\\\/div><div>  keywords = \\\"Business cycle report\\\",<\\\/div><div>  author   = \\\"Josef Baumgartner and J{\\\\\\\"u}rgen Bierbaumer and Sandra Bilek-Steindl and Christine Mayrhuber and Silvia Rocha-Akis\\\",<\\\/div><div>  note     = \\\"Strongest Slump in GDP since 1945. The Austrian Economy in 2020\\\",<\\\/div><div>  year     = \\\"2021\\\",<\\\/div><div>  month    = may,<\\\/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  - Strongest Slump in GDP since 1945<\\\/p><p>T2  - The Austrian Economy in 2020<\\\/p><p>AU  - Baumgartner, Josef<\\\/p><p>AU  - Bierbaumer, J\u00fcrgen<\\\/p><p>AU  - Bilek-Steindl, Sandra<\\\/p><p>AU  - Mayrhuber, Christine<\\\/p><p>AU  - Rocha-Akis, Silvia<\\\/p><p>N1  - Strongest Slump in GDP since 1945. The Austrian Economy in 2020<\\\/p><p>PY  - 2021\\\/5<\\\/p><p>Y1  - 2021\\\/5<\\\/p><p>N2  - Economic development in 2020 was driven by the COVID-19 pandemic and the restrictions imposed to contain it. The Austrian economy recorded a massive slump. Private consumption was hit particularly hard, as were tourism, transport, trade, personal services and cultural and leisure facilities. The expansion of short-time working regimes supported per capita incomes. The COVID-19 crisis also had an impact on inflation, with unprocessed food and services becoming more expensive, while petroleum products dampened price increases.<\\\/p><p>AB  - Economic development in 2020 was driven by the COVID-19 pandemic and the restrictions imposed to contain it. The Austrian economy recorded a massive slump. Private consumption was hit particularly hard, as were tourism, transport, trade, personal services and cultural and leisure facilities. The expansion of short-time working regimes supported per capita incomes. The COVID-19 crisis also had an impact on inflation, with unprocessed food and services becoming more expensive, while petroleum products dampened price increases.<\\\/p><p>KW  - Business cycle report<\\\/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\"]","scientific_review":"[\"Ederer 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>Strongest Slump in GDP since 1945 - 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\/56509\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Strongest Slump in GDP since 1945\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/56509\/\" \/>\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=\"2024-04-20T05:10:42+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\\\/56509\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/56509\\\/\",\"name\":\"Strongest Slump in GDP since 1945 - 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