Austria's country-related exchange traded fund (
) may benefit from a better-than-expected economic forecast for the
year as exports help boost the country's recovery.
The International Monetary Fund (
) projects the Austrian economy to expand by 1.5% for 2010 and 1.6%
reports Flemming E. Hansen for NASDAQ
. The IMF also mentioned that growth won't return to pre-global
crisis levels for the medium-term outlook.
Austria was also cautioned to reduce spending so as to diminish
its budget deficit. The IMF estimates slightly higher budget
deficits of 4.1% in 2010 and 4.8% for 2011 as compared to the
Austrian government. [
Global ETFs With High Yields.
The OECD Secretary-General Angel Gurrar commented that Austria
should enact structural reforms in its product and labor markets to
improve long-term growth and raise per capita income, remarking
that "Austria should build on the reforms already under way to
create a more entrepreneurial, competitive environment to help
business drive growth,"
according to Voxy
. By making the reforms, Austria may increase the efficiency of
firms operating across the Lnder. [
Europe vs. the U.S.
The producer price inflation jumped to 4.2% year-over-year in
July from 3.5% in June, which was mainly attributed to a 6.6% rise
for intermediate goods industries and a 6.8% increase in energy
according to RTTNews
For more information on Austria, visit our
iShares MSCI Austria (NYSEArca: EWO)
is up 9.4% in the last three months
Max Chen contributed to this article.