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Stabilisation of Global Economy in Sight. Business Cycle Report of August 2009

  • Economics


The global economic situation eased in the second quarter of 2009, following the strong contraction in the last six months of 2008. Austria's real GDP also shrank by a mere 0.4 percent quarter-on-quarter (after –2.7 percent in the first quarter). Confidence indicators point towards a further improvement in the situation in the third quarter. Global economic conditions are nevertheless likely to remain fragile for a protracted period of time.

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