Management Report and Consolidated Financial ... - Do & Co

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Management Report and Consolidated Financial ... - Do & Co

GB Zahlenteil Neu 7 Englisch:Layout 1 16.10.2008 8:58 Uhr Seite 127

Countries in the euro area recorded a GDP increase of 2.6 % in the year under review,

a figure slightly lower than in 2006 (2.8 %). With another year of strong economic

growth, the Central and Eastern European countries once again outstripped Europe as

a whole (CEE 2008: 5.8 %). The fast-expanding financial sector is a major force behind

the growth in these countries. Analysts believe investments have already peaked in

most CEE countries so a somewhat lower rate of growth is expected for 2008 (CEE

2009: 4.3 %).

Austria, for its part, achieved considerable growth for the second year in a row. Following

a GDP increase of 3.3 % in 2006, total economic output rose by 3.4 % in 2007.

This decent showing is mainly attributable to dynamic exports and the fine performance

in the telecom sector and in capital goods production.

In tourism, the number of overnight stays increased by 1.7 % largely due to strong domestic

demand. This industry expects the EURO 2008 to give an additional boost to

growth.

The lingering effects of the US real estate crisis on the productive economy are expected

to curb growth in exports, industrial production and corporate investments in

Austria in 2008. After a strong spurt early in the year, these declines are likely to push

the growth rate down to 2.1 %.

Positive

domestic market

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