News – 26.06.2020
Outlook for 2020 and 2021
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).