Xinhua, Vienna :
The Austrian economy contracted 0.1 percent in the third quarter of 2014, the Austrian Institute of Economic Research (WIFO) said Friday.
A technical recession is possible should GDP growth in the fourth quarter shrink further, given the economy is weakening further, Marcus Scheiblecker from WIFO said in an interview with the Austria Press Agency.
Additionally, if other special effects on the economy not bound to any period of time are added, the GDP growth rate for the third quarter would have slipped to a contraction of 0.3 percent, he said.
For the entirety of 2014, it is still hoped real GDP growth of about half a percent can be achieved, down from the 0.8 percent WIFO forecast in its last economic report in mid-September.
The Austrian economy contracted 0.1 percent in the third quarter of 2014, the Austrian Institute of Economic Research (WIFO) said Friday.
A technical recession is possible should GDP growth in the fourth quarter shrink further, given the economy is weakening further, Marcus Scheiblecker from WIFO said in an interview with the Austria Press Agency.
Additionally, if other special effects on the economy not bound to any period of time are added, the GDP growth rate for the third quarter would have slipped to a contraction of 0.3 percent, he said.
For the entirety of 2014, it is still hoped real GDP growth of about half a percent can be achieved, down from the 0.8 percent WIFO forecast in its last economic report in mid-September.
