Abstract: The main objective of this paper is to identify a set of leading indicators of inflatio... more Abstract: The main objective of this paper is to identify a set of leading indicators of inflation for the United Kingdom, and discuss the conceptual issues pertaining to inflation targeting. The main conclusions are that narrow money has strong leading indicator properties for ...
Over the period from 2003 to 2008, real GDP in Austria is expected to grow by about 2.3 percent p... more Over the period from 2003 to 2008, real GDP in Austria is expected to grow by about 2.3 percent per year, slightly faster than in the euro area as a whole. Notably the tax reform, EU enlargement and investment in the knowledge base should secure a small growth advantage vis-à-vis ...
1 We thank Statistics Austria (ST.AT) for providing the data and especially Paul Haschka for valu... more 1 We thank Statistics Austria (ST.AT) for providing the data and especially Paul Haschka for valuable information on the data. This study has been conducted in the context of the 'Eurosystem Inflation Persistence Network (IPN)'.We are indebted to the members in this network, especially to ...
The Austrian economy is about to enter a phase of cyclical upturn that should last until 2004, wh... more The Austrian economy is about to enter a phase of cyclical upturn that should last until 2004, when growth may rise above 3 percent. For 2005 and 2006, a marked slowdown should be expected. The business cycle is determined primarily by international developments ...
Economic growth in Austria could accelerate to 2.3 percent annually in real terms over the next f... more Economic growth in Austria could accelerate to 2.3 percent annually in real terms over the next five years. At such a pace, the average growth rate would thus be significantly higher than in 19992004 (+1.6 percent). The chief momentum comes from exports. Domestic ...
The improving economic environment in the European Union also has a positive impact on Austria. I... more The improving economic environment in the European Union also has a positive impact on Austria. In the forecasting period of 1999 to 2004, its real GDP is expected to grow by 2.5 percent pa on average, slightly less than the European average. According to the international ...
Led by a dynamic export growth real GDP in Austria grew by 2 percent in 2010. Between 2011 until ... more Led by a dynamic export growth real GDP in Austria grew by 2 percent in 2010. Between 2011 until 2015 the Austrian economy is expected to grow by 2.2 percent. The annual growth rate of trend output will average at 1.7 percent in the forecast period, ¼ percentage point below the average of the 10 years before the crisis. The world economy has overcome the cyclical trough sooner than anticipated and expanded by 4.5 percent in 2010. This growth rate is expected to persist during the period from 2011 to 2015. The revival of world trade will cause an increase of Austrian exports by an average of 6.2 percent per year. As import growth is slightly lower at 5.8 percent, net exports will contribute to GDP growth. The pick-up in export activity in 2010 failed to spur investment (–3.1 percent) sufficiently as capacity utilisation remained low at the beginning of the year. Owing to the sustained and dynamic export growth, investment activity is expected to pick up in the forecast period and gro...
Abstract: The main objective of this paper is to identify a set of leading indicators of inflatio... more Abstract: The main objective of this paper is to identify a set of leading indicators of inflation for the United Kingdom, and discuss the conceptual issues pertaining to inflation targeting. The main conclusions are that narrow money has strong leading indicator properties for ...
Over the period from 2003 to 2008, real GDP in Austria is expected to grow by about 2.3 percent p... more Over the period from 2003 to 2008, real GDP in Austria is expected to grow by about 2.3 percent per year, slightly faster than in the euro area as a whole. Notably the tax reform, EU enlargement and investment in the knowledge base should secure a small growth advantage vis-à-vis ...
1 We thank Statistics Austria (ST.AT) for providing the data and especially Paul Haschka for valu... more 1 We thank Statistics Austria (ST.AT) for providing the data and especially Paul Haschka for valuable information on the data. This study has been conducted in the context of the 'Eurosystem Inflation Persistence Network (IPN)'.We are indebted to the members in this network, especially to ...
The Austrian economy is about to enter a phase of cyclical upturn that should last until 2004, wh... more The Austrian economy is about to enter a phase of cyclical upturn that should last until 2004, when growth may rise above 3 percent. For 2005 and 2006, a marked slowdown should be expected. The business cycle is determined primarily by international developments ...
Economic growth in Austria could accelerate to 2.3 percent annually in real terms over the next f... more Economic growth in Austria could accelerate to 2.3 percent annually in real terms over the next five years. At such a pace, the average growth rate would thus be significantly higher than in 19992004 (+1.6 percent). The chief momentum comes from exports. Domestic ...
The improving economic environment in the European Union also has a positive impact on Austria. I... more The improving economic environment in the European Union also has a positive impact on Austria. In the forecasting period of 1999 to 2004, its real GDP is expected to grow by 2.5 percent pa on average, slightly less than the European average. According to the international ...
Led by a dynamic export growth real GDP in Austria grew by 2 percent in 2010. Between 2011 until ... more Led by a dynamic export growth real GDP in Austria grew by 2 percent in 2010. Between 2011 until 2015 the Austrian economy is expected to grow by 2.2 percent. The annual growth rate of trend output will average at 1.7 percent in the forecast period, ¼ percentage point below the average of the 10 years before the crisis. The world economy has overcome the cyclical trough sooner than anticipated and expanded by 4.5 percent in 2010. This growth rate is expected to persist during the period from 2011 to 2015. The revival of world trade will cause an increase of Austrian exports by an average of 6.2 percent per year. As import growth is slightly lower at 5.8 percent, net exports will contribute to GDP growth. The pick-up in export activity in 2010 failed to spur investment (–3.1 percent) sufficiently as capacity utilisation remained low at the beginning of the year. Owing to the sustained and dynamic export growth, investment activity is expected to pick up in the forecast period and gro...
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