Austria: Stabilising policies

Owing to the global crisis, Austria has entered the most severe recession in decades. GDP is set to contract in 2009, resulting in an increase in unemployment and low inflation. The unemployment rate increased to 4.2% in April 2009, from 3.7% a year before.

Activity is expected to pick up gradually in the course of 2010.

The policy measures taken since last September are mitigating the downturn and stabilising financial markets. Further financial-sector support might be needed to deal with downside risks should they materialise. The deterioration in the fiscal position calls for spelling out soon a credible medium-term consolidation strategy. Fiscal reforms should be continued to facilitate consolidation efforts.

Click here to see all OECD Observer articles on Austria

See also www.oecd.org/austria

You can order the latest Economic outlook at www.oecd.org/bookshop

©OECD Observer No 274, July 2009




Economic data

GDP growth: +0.2% Q4 2019
Consumer price inflation: 2.3% January 2020
Trade (G20): -0.1% exp, -1.3% imp, Q4 2019
Unemployment: 5.1% January 2020
Last update: 11 March 2020

OECD Observer Newsletter

Stay up-to-date with the latest news from the OECD by signing up for our e-newsletter :

Twitter feed

Digital Editions

Don't miss

Most Popular Articles

NOTE: All signed articles in the OECD Observer express the opinions of the authors
and do not necessarily represent the official views of OECD member countries.

All rights reserved. OECD 2020