WIFO Bulletin

Das WIFO Bulletin ist eine reine Online-Publikation in englischer Sprache mit den Schwerpunkten

  • Prognosen für Österreich und andere Länder,
  • Konjunkturberichterstattung,
  • Analysen zur europäischen Integration.

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Die Artikel des Vorgängers "Austrian Economic Quarterly" finden Sie hier: Austrian Economic Quarterly

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WIFO Bulletin (133 Treffer)

As measures to contain the COVID-19 pandemic were relaxed in the third quarter, the global economy recovered. However, the negative correlation between lockdown intensity and economic growth weakened. Rather, the extent of the previous economic slump proved to be a good indicator of the strength of the rebound. In Austria, the rebound was even more pronounced than expected, with commerce in particular recovering rapidly. Both internationally and in Austria, manufacturing industry was less affected by the second lockdown than by the first. However, business sentiment deteriorated in November, and unemployment increased.
The dynamics of the global economy continue to be determined by the COVID-19 pandemic and the measures taken to contain it. Following the GDP slump in the USA and the euro area in the second quarter, a rebound was recorded in the third quarter. Confidence indicators are still at a low level, but signal signs of recovery in industry. Economic output in Austria also grew significantly in the third quarter 2020. Catch-up effects were reflected in particular in an increase in consumption by private households and in the value added in the service sectors. The reduction in employment slowed down, but according to preliminary figures was still 1 percent year-on-year in October. Inflation rose slightly in September.
WIFO Bulletin, 2020, 25(11), S.101-113
Online seit: 25.01.2021 0:00
Despite sluggish growth in Austrian foreign trade and in manufacturing, the Austrian unit labour cost position in the manufacturing sector improved, compared to the weighted average of the trading partners. This development was partly determined by the unit labour cost dynamics in Germany, where productivity declined significantly in 2019. The exchange rate development of the euro contributed to the improvement of the Austrian unit labour cost position, compared to the average of the non-euro trading partners.
WIFO Bulletin, 2020, 25(10), S.87-100
Online seit: 18.11.2020 0:00
In spring, the global economy suffered a massive slump due to the pandemic-related protective measures. The loss in value added was partially made up in the summer; in Austria, value added in the third quarter is likely to have grown by more than 10 percent compared with the previous quarter. About half of the crisis-related rise in unemployment was reduced by September. In the fourth quarter, however, economic momentum will slow down markedly as a result of expiring rebound effects (the unwinding of the consumption backlog) and an increase in the number of infections. For 2020, GDP is forecast to fall by 6.8 percent overall compared with 2019, and rise by 4.4 percent in 2021. A new lockdown in autumn could reduce these rates by 2.5 and 4.0 percentage points respectively.
WIFO Bulletin, 2020, 25(9), S.75-86
Online seit: 09.11.2020 0:00
In 2019, the Austrian private insurance industry continued the previous year's development with a moderate increase in gross premium income (+1.6 percent). This development was driven by a dynamic expansion in health (+4.9 percent) and non-life and accident insurance (+2.9 percent), while revenues in life insurance were down 2.2 percent. The Austrian insurance market followed the general dynamics in the European Economic Area. Due to the COVID-19 crisis, forecasts for real premium growth in life insurance will be revised downwards for 2020 and 2021 by around 4 percentage points, and by 1 percentage point in non-life insurance.
In the EU, all components of demand were impacted by the economic downturn in the second quarter; in the UK, France and Italy, private consumption was affected to an above-average extent. In Austria, economic output in the second quarter was one eighth down compared to the previous year's level, the decline thus being less pronounced than the EU average. Tourism suffered less than in Italy or Spain; the development of overnight stays by German and domestic visitors cushioned the drop in demand in July. Only a good third of the unemployment caused by the crisis has so far been recuperated. As a result, long-term unemployment has continued to rise recently.
In Austria, economic output fell in the first half of 2020 due to the measures taken to contain the COVID-19 pandemic. A decline of 2.4 percent compared to the previous period in the first quarter was followed by a contraction of 10.7 percent in the second quarter (seasonally adjusted according to Eurostat standard). Although companies continue to assess the current situation unfavourably in surveys, expectation indicators in particular have improved. Economic risks have recently been pointing more strongly downwards again due to the recent increase in the number of infections.
WIFO Bulletin, 2020, 25(6), S.45-58
Online seit: 11.08.2020 0:00
The measures adopted to contain the COVID-19 pandemic give rise to a recession in Austria. With a slump by 7.0 percent year-on-year, demand and output will contract even more sharply in 2020 than during the economic and financial market crisis of 2008-09. Since the trough now appears to have been passed, the recession promises to be short. Nevertheless, GDP will still not be back to its pre-crisis level by the end of the projection horizon (end of 2021).
Austria's economic output fell sharply and on a broad basis in the first quarter of 2020 due to the measures taken to contain the COVID-19 pandemic. Although companies continue to assess the current situation unfavourably, expectation indicators improved.
The global economy was hit strongly by the effects of the COVID-19 related restrictions imposed worldwide to contain the pandemic. Initial data already show a decline in GDP in all major economic regions in the first quarter. Confidence indicators deteriorated to a level similar to that during the financial market crisis in 2008-09. In Austria, too, economic output already declined in the first quarter. Consumption as well as accommodation and food service activities, transportation, wholesale and retail trade, repair of motor vehicles and motorcycles and other service activities were particularly affected. After rising strongly within two weeks at the end of March, unemployment continued to rise in April, albeit at a slower pace. Inflation fell in March.
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