The latest research shows that the Austrian economy will recover more slowly than expected
by CIJ News iDesk VII 
2020-04-23 
finance
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Austria's economic recovery could take far longer than was original anticipated, warn economists from the Vienna University of Economics, the IHS and the Wifo Institute of Economics. A joint study concluded that making up the expect 6 percent fall in GDP in 2020 could take three years. The 6-percent decline is being projected if the current downturn continues until mid-June. The study found that while Austria has a solid high-tech manufacturing base and a strong services sector, it will take time to restart investments, re-employ the workforce and get consumers spending again. Despite the possibility of part-time work, experts expect unemployment rate to rise to as much as 12 percent.