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Austrian businesses issue recession warning
The situation will deteriorate over the coming winter, an industry group has predicted Austrian businesses should prepare for a recession this year and should not expect economic growth until the spring, the Federation of Austrian Industries warned last week. Speaking at a press conference, federation secretary general Christoph Neumayer cautioned that “from a macroeconomic point of view, the signs to date point to a prolonged phase of economic stagnation,” as quoted by Austrian news outlet OTS. He added that industries should brace themselves for a recession “with a view to the winter half-year (October to March)

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