I read an article the other day in the online version of "austriantimes.at" and it talks about the consequences of the financial crisis for the Austrian production output.
I thought you might be interested because we will have to pay the debts which are made now.
Basically what it talks about is that Austria's production output had decreased by more than 10 per cent last year, compared to 2008. The industrial sector suffered the most and the construction branch the less.
The institute of Economic Research (Wifo) said that Austria would recover from the crisis more slowly than other European countries, because it has a strong economic presence in Eastern Europe. There are a lot of Austrian banks for example.
Wifo also mentioned that Austria's growth between 2010 and 2014 would be 1.8 per cent annually on the average. This is about 0.75 per cent less than in the years before the crisis.
I think it will take a long time for the whole world to recover from the financial crisis.
Vocabulary:
original Link:
http://austriantimes.at/news/Business/2010-02-24/21000/Austrian_production_output_down_in_2009
I thought you might be interested because we will have to pay the debts which are made now.
Basically what it talks about is that Austria's production output had decreased by more than 10 per cent last year, compared to 2008. The industrial sector suffered the most and the construction branch the less.
The institute of Economic Research (Wifo) said that Austria would recover from the crisis more slowly than other European countries, because it has a strong economic presence in Eastern Europe. There are a lot of Austrian banks for example.
Wifo also mentioned that Austria's growth between 2010 and 2014 would be 1.8 per cent annually on the average. This is about 0.75 per cent less than in the years before the crisis.
I think it will take a long time for the whole world to recover from the financial crisis.
Vocabulary:
- output (Leistung, Produktion): The production output of the company decreased.
- growth (Wirtschaftswachstum): The growth will be 1.8 per cent annually on the average.
- average (Durchschnitt): The average of 2 + 4 is 3.
- debt (Schuld): He has to pay for the debts he made years ago.
original Link:
http://austriantimes.at/news/Business/2010-02-24/21000/Austrian_production_output_down_in_2009
