Coronavirus Pandemic: Sharp, But in the Best Case Short Cyclical Slump

The coronavirus pandemic is currently straining international and domestic business activity. For the first half of 2020, severe losses of demand and output should be expected worldwide, essentially depending on how long the measures to contain the spreading of the virus will be in force. In the present circumstances, no more than possible scenarios can be mapped out. In the event of the restrictions remaining in force until end-April, being gradually relaxed during May and the situation returning to normal in summer, Austria's economy is expected to contract by 2.5 percent in 2020.