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Economic situation in Austria: Slow improvement despite rising indicators
Current economic situation in Austria: Contrary to expectations, construction and industry are slowing down, services are showing slight signs of recovery. Bank Austria's chief economist warns of a lack of noticeable recovery. Economic indicator is slowly rising.
Economic situation in Austria: Slow improvement despite rising indicators
The Austrian economy is only showing slow signs of recovery, although pessimism still prevails. The construction and industrial sectors in particular are having a significant impact on economic development, while services are showing slight signs of recovery. According to Stefan Bruckbauer, chief economist at Bank Austria, there is little evidence of any significant progress towards a noticeable recovery. In March, his company's economic indicator rose for the sixth month in a row, but is still in negative territory at minus 2.6 points. The ongoing weakness of the construction and industrial sectors is having a significant impact on the overall economy and is slowing the hoped-for upswing. It remains to be seen whether the situation will improve in the coming months.