Low National Growth Rates Combined with Economic West-East Divide. Business Development in the Austrian Länder in 2014

In 2014, gross value added grew at a slow rate in Austria, whereas growth rates were a little higher in its western and southern regions. All Austrian Lander except Vorarlberg were characterised by significantly lower growth rates than the EU average. Export dynamics were still weak in 2014 despite the brightening of economic prospects in Europe. Labour demand grew at a lower rate than labour supply, causing unemployment rates to increase in all Lander. Unemployment rates rose more sharply in urban regions.