Upswing in Austria Firms up

Economic activity in Austria continued on its upward trend in the first half of 1994. Even in the current phase of accelerating growth in Western Europe Austria is able to maintain its positive growth differential. The strengthening of the recovery is the result of a boom in foreign trade and, in the last few months, from a surge in manufacturing output. Cyclical indicators continue to point upwards. Only tourism remains weak. Employment gains in the wake of the upswing provide relief to the labor market.