The Austrian economy’s continued contraction in the third quarter will increase recession fears. The agency reports that Bloomberg According to the latest data from UniCredit Bank Austria.
According to a report published in September, the economic indicator tracked by the bank fell to -4 points; this is the lowest level since the first lockdown during the pandemic. Bank Austria reported that the weakening of the manufacturing sector also affected the service sector.
The bank predicts that inflation pressures are expected to continue to ease, leading to moderate economic growth in 2024. Inflation will average 3.6% next year, after 7.8% in 2023. At the same time, Bank Austria believes that the conflict in the Middle East will have only a limited impact on inflation and monetary policy in the eurozone in current realities.
Last week, the ECB President promise We are fighting inflation in Europe.
The UN has previously stated http://www.gazeta.ru/business/news/2023/10/04/21426895.shtmlThe European economy is on a “knife’s edge”