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Austrian Industrial Sector Well Positioned in International Competition
Politics ♦
Published: October 14, 2013; 14:46 ♦ (Vindobona)
In 2012, the Austrian industrial sector was well positioned in the international competition, according to a study by the Austrian Institute for Economic Research (Wifo).
Austrian Industrial Sector Well Positioned in International Competition / Picture: © Vindobona.org
In contrast to some of its trade partners, Austria was able to improve its competitive position on the international market despite of a weakening of economic activity and, as a consequence, an increase of the unit wage costs in the production of goods by around three percent. Labor costs increased by 3.2 percent compared to last year, which is the same level of 2011 (+ 3.4 percent),…
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