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Austrian Economic News and Analysis
Read the latest headlines about Austria's economy, including news on inflation, growth domestic product (GDP), nation's debt and labor market
Keuschnigg: „Austria Needs More Federalism“
The new director of IHS (Institute of Advanced Studies) considers that a decentralization of the fiscal policy would bring more competition between the provinces.
May 18, 2012
Economic Indicator: Slow Recovery Expected
The Bank Austria business indicator indicates a slight upward trend. In the second quarter, economic growth is expected to reach 0.2%.
May 16, 2012
Austrian Inflation Rate Remains Above 2.0%
Slight decrease of consumer price inflation to 2.3% in April 2012.
May 16, 2012
Austrian SME as Innovation and Job Engine
SMEs account for 66 per cent of overall employment in Austria and have created 44,000 new jobs over the last four years. Bank Austria underlines the importance of innovation.
May 16, 2012
Austrian Economy Grows Slowly
After a period of stagnation, the Austrian economy showed a small growth rate of 0.2% in the first quarter of 2012.
May 15, 2012
Keuschnigg Worries About Austria´s Competitiveness
The new director of IHS (Institute of Advanced Studies) Christian Keuschnigg suggests reforming the Austrian labor market. The welfare state would be too sophisticated.
May 15, 2012
A “Speech to Austria”? No.
The disenchantment with politics in Austria is as big as never before. An ambitious, but meaningless speech of Vice-Chancellor Spindelegger will not change the misery.
May 15, 2012
Savings Books More Popular than Building Saving
After the cut in the bonus for building savings, savings books are more popular again in Austria.
May 14, 2012
Strong Increase in Austrian FDI
Only in 2007, Austrian investors made more investments abroad. Last year, FDI totaled € 22bn.
May 14, 2012
Saudi-Austrian Forum in Vienna
Saudi Arabia and Austria celebrated the 55th anniversary of Saudi-Austrian relations. Foreign trade is growing substantially.
May 14, 2012
Keuschnigg: „Problem Countries Must Cut Wages“
The designated director of the Austrian IHS (Institute of Advanced Studies) thinks that a drastic wage cut in Greece, Portugal and Spain is inevitable.
May 12, 2012
Austrian Ministry of Finance Presents Public Expense Statistic
Finance Minister Maria Fekter initiated an information campaign. 22.6% of the public expenses are allocated to provinces and municipalities.
May 12, 2012
Austrian Labor Market: Most Jobs in SME
The quantitatively most important employer in Austria are still small and medium sized enterprises. Above all, handicraft enterprises are a major pillar for the domestic labor market.
May 12, 2012
„Combining Austerity and Growth Measures“
The Austrian Minister of Economics and the President of the Austrian Chamber of Commerce claim a European growth strategy without turning down austerity policies.
May 11, 2012
Commerzbank Has Growth Plans in Austria
The German commercial bank wants to become number one in Austria. At the moment every second big company is a customer at Commerzbank.
May 11, 2012
Austrian Chemical Industry Grows
In 2011, the domestic chemical industry registered a 10.5% growth in revenues. Exports were up by 8.5%.
May 11, 2012
Austrian Stability Pact Signed
The Austrian Federation, the provinces and the municipalities agreed on the stability pact. Until 2016, a zero deficit should be reached.
May 10, 2012
Strong Growth in Austrian Consulting Industry
The Austrian consulting industry created 6.2% of Austria´s GDP in 2011. The revenue of the industry went up by 9.2%.
May 10, 2012
Stable Development of Austrian Economy
The Austrian Institute of Economic Research (WIFO) forecasts a decent, but stable economic growth in 2012.
May 10, 2012
Constant Rise in Austrian Research Spending
Austrian spending on research and development is set to increase by 4.2% in 2012 to reach € 8.6bn.
May 10, 2012
IHS: Austerity Package Smaller than Expected
The Austrian Institute of Advanced Studies (IHS) considers the austerity package to be effective. Proceeds will be smaller than expected, though.
May 9, 2012
Austrian Insurance Industry Shrinks
Last year, premium income generated by Austrian insurance companies was down by 1.7%. Insurance benefits were up, however.
May 9, 2012
Small Rise in Foreign Trade
January to February 2012: moderate increase in imports (3.9%) and exports (5.4%).
May 8, 2012
As Recession Grips its Neighbors, Austria May Escape the Carnage
The world’s economic focus continues to be Europe and whether its widening list of travails will once again derail the global recovery, as it did a year ago at this time.
May 8, 2012
Greece: „The Markets were too Euphoric“
In an interview with the Austrian newspaper “Standard”, the Austrian analyst Friedrich Mostböck thinks that the European debt crisis will remain a major challenge.
May 7, 2012
Austrian Exports to Canada up by 4.5% in 2011
Bilateral trade between Austria and Canada reaches € 1.13bn. Canadian Exports to Austria were down by 1.9%.
May 7, 2012
Leitl: „EU Needs Budget Consolidation and Growth Measures“
The President of the Austrian Chamber of Commerce claims to create a European fund in order to support small and medium-sized enterprises.
May 5, 2012
Austria Achieved Positive Current Account in 2011
Last year, Austria´s current account reached a surplus of 1.9% of the GDP.
May 4, 2012
Decent Growth in Austrian Retail Trade Sector
Sales rose by 2.3% for Austrian retail trade in the first quarter 2012.
May 4, 2012
ESM: The Final Ruin of Europe
Solidarity with financially stricken EU countries cannot justify the irrevocable loss of national sovereignty. The transfer union will only work until the financial collapse of Germany and Austria.
May 2, 2012
Austrian Unemployment Still Lowest in EU
The EU unemployment rate rose to 10.9% in March 2012 from 9.9% the year before. Since 2000, taxes on labor rose dramatically in Austria.
May 2, 2012
Austrian Industrial Sector Expands
Positive production trends in industry and construction in January 2012: turnover was up by 11.1%. Construction output grew by 17.9%.
May 2, 2012
Unemployment Rises by 6.7%
In Austria, the number of unemployed persons rose up to 321,817 in April. Simultaneously, employment reaches a new record level.
May 1, 2012
Moderate Rise in Industrial Producer Prices
Austrian Industrial producer prices in March 2012: increase by 1.4% against March 2011.
April 30, 2012
Slight Optimism in Austrian Industrial Sector
For the Federation of Austrian Industries (IV), the stagnation is conquered. Industrial production and employment is growing despite unfavorable macro-economic data.
April 28, 2012
Pressure on Medium Income Earners Rising
The Austrian Chamber of Labor warns that the number of people who do not get by with their income anymore rose to 60%.
April 28, 2012
Saving Rate Falls Further
Private households invested € 9.3bn in financial assets in 2011. This is a decline by 20% against 2010.
April 28, 2012
Small Growth in Austrian Winter Season
The current tourism winter season 2011/12 recorded a rise in overnights by 2.1%.
April 26, 2012
Business Insolvencies Expected to Increase
After two years of decreasing business insolvencies, the Austrian economy faces a rising number of business insolvencies again.
April 26, 2012
Austria As High-Tax Country
According to the World Bank and PwC, enterprises have to bear a relatively high tax burden in Austria.
April 25, 2012
“Russia now among top 10 Austrian Trading Partners”
Austrian Foreign Minister Spindelegger meets with Russia’s Deputy Prime Minister Zubkov.
April 25, 2012
Austria Wants to Raise Efficiency in EU Funds
The Austrian State Secretary Waldner participates in the negotiations of the EU financial framework 2014-2020 and calls for setting a regional and environmental course.
April 25, 2012
Austrian Research Intensity to Reach 2.80% in 2012
According to a forecast of Statistics Austria, € 8.6bn are expected to be spent on research and development (R&D).
April 25, 2012
Austria to Intensify Cooperation with Croatia
The Austrian Minister of Economics met his Croatian counterpart in Vienna. Above all, the EU-accession and investments were discussed.
April 24, 2012
Labor Costs: Austria in the Upper Third
Hourly labor costs ranged between € 3.5 and € 39.3 in the EU27 Member States. In Austria, labor costs reach € 29.20.
April 24, 2012
Austrian Ministry of Finance Records Higher Tax Intake
In the first three months of 2012, tax proceeds were up by 3.8%. The Ministry of Finance registered revenues of € 16.2bn.
April 23, 2012
Leitl: Increasing Foreign Trade with Russia
The President of WKO (Austrian Chamber of Commerce) wants to raise bilateral trade volume up to € 10bn by 2015.
April 23, 2012
Maastricht Criteria: Austria in the Middle Field
In 2011, the government deficit of both the euro area (EA17) and the EU27 decreased in absolute terms compared with 2010, while the government debt rose in both zones.
April 23, 2012
Waldner: “Germany and Austria are Role Models in the Eurozone“
The Austrian State Secretary Wolfgang Waldner had a work meeting today with his colleague in the German Federal Foreign Office, Minister of State Michael Link.
April 23, 2012
1.0 Million People in Poverty
More than 150,000 people in Austria do not have a bank account. A lack in financial education causes a loss of 1.0% of GDP.
April 23, 2012
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