Economic Recovery in Third Quarter 2009. Business Cycle Report of November 2009

In the third quarter, Austrian GDP increased at a seasonally and working day adjusted rate of 0.9 percent quarter-on-quarter. Global economic conditions improved further: world trade and economic activity in the industrialised countries expanded for the first time in a year. Leading indicators point to a continuation of the upturn. WIFO's business cycle survey shows that production expectations have brightened further also in Austria; first signs of stabilisation have become apparent in the labour market. However, the difficulties still standing in the way of a lasting upturn in the medium term must not be overlooked.