Vienna (OTS) – The global economy is currently looking a bit too low
stabilize. GDP is expanding in the US and the euro area
The strength remains strong, and there are also indications in Germany
a gradual end to the cooling down. In Austria grew the
Economy in the III. Quarter little, however, the economic momentum remained
constant. However, the outlook for the economy is mixed,
and the recovery in the labor market is likely to come to an end.
Inflation slowed further.
The global economy is in a phase of weakness that
already started in the previous year. At present, the
But to stabilize the economy somewhat. In some industrial and
Emerging markets improved their economic forecasts
In the US, GDP in the III. Quarter in quarterly comparison
unchanged by 0.5%. Private consumption continues to develop
robust and carries the economy. The economic outlook strengthened
something new, although surveys in the industry continue
Also in the euro area, the economy grew in the III. Quarter unchanged
(+ 0.2% qoq). In France, Italy and Spain
The economy has been stable so far. The mood is in the individual
Different countries. In Germany, the
Economy in the III. Quarter continued to shrink slightly. Even there
However, the first signs of calming appear.
In Austria, the economy remains weak, but remained
stable so far. The economy grew in the III. Quarter by 0.2%
(Trend-cyclical component) compared to the previous quarter (II. Quarter
+ 0.2%). Unadjusted GDP was thus 1.5% above the level of
Last year. Growth was driven by exports and exports
Household consumption expenditure continued to increase. The
Expansion of gross fixed capital formation lost momentum. The
Economic weakness was particularly felt in industry
whose value added sank noticeably compared to the previous quarter.
The outlook for the Austrian economy clouded
last again. According to WIFO business survey of October
The current situation assessments of the companies deteriorated
further. In particular, in the manufacturing sector fell the
Assessments are much more pessimistic than before. The
however, entrepreneurial expectations were stable. The
Consumer confidence remained in the European Commission
largely robust in recent months.
The economic upturn of recent years has an impact on the economy
Austrian labor market continues to decline. The number of dependent
Active employees was in October according to preliminary estimates
still significantly higher than last year, and the number of AMS
registered unemployed dropped. Seasonally adjusted, the show
Effects of the slowdown in growth, the unemployment rate was in the
October unchanged at 7.4%.
Inflation slowed again in September (up
For the definitions see ("methodical notes and short glossary")
The Vienna Insurance Group (VIG) is active with around 50 Group companies and more than 24,000 employees in 25 countries. VIG has been listed on the Vienna Stock Exchange since 1994 and is today one of the top companies in the "prime market" segment with an attractive dividend policy.
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