The business cycle slowdown has gained momentum in recent months. In Austria, survey data show a marked decline in manufacturing
and construction output as well as in wholesale trade. Somewhat better are developments in tourism and of retail sales. After
Japan, also the U.S. economy is now in recession, and for Europe all short-term indicators are heading downwards.
Keywords:Sharp Fall in Business Confidence, Strong Rise in Unemployment
Forschungsbereich:Makroökonomie und europäische Wirtschaftspolitik