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Austrian economy expected to remain in stagnation: economic institute

Xinhua, March 10, 2015 Adjust font size:

Economic development in Austria is expected to remain in stagnation in the short term, leading indicators of the Austrian Institute of Economic Research (WIFO) show.

WIFO stated in its March economic analysis on Monday that not only is there no revival expected in the coming months following two consecutive zero-growth quarters, but some indicators have even worsened over time.

It says the national economy is still missing necessary impulses both domestically and from abroad. Even with the recent lows in crude oil prices the economic institute believes the first quarter of 2015 will be characterized by a sluggish growth dynamic.

WIFO said the low oil prices are supporting the recovery of the global economy, but this is proceeding differently in various regions of the world, and often only gradually. Endit