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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
Austrian Industry Supports Audit Court
For the Federation of Austrian Industries (IV), the administration has to be reformed immediately. Future investments are needed instead of administrative expenses.
December 5, 2011
Rising Finance Requirements for Austria
In 2012, the Austrian state has to take on significantly more debt than this year. The issued bond volume will grow by 30%.
December 3, 2011
Austria’s Population Exceeds 8.4 Million Inhabitants
The population has grown by 400,000 persons since 2001. The positive trend was observed in all federal states except Carinthia.
December 1, 2011
Austrian Industry Contracts Further
Bank Austria’s Purchasing Managers’ Index has fallen to the lowest level for two and a half years, reflecting a lack of new orders.
December 1, 2011
Unemployment Up by 3.7% in November
More than 321,000 persons were registered with the Austrian Labor Market Service in November. The number of employed persons increased by 59,000.
December 1, 2011
Austria’s Unemployment Rate Is the Lowest in the EU
The EU27 unemployment rate was 9.8% in October, compared with 9.7% in September 2011 and 9.6% in October 2010
November 30, 2011
Retail Trade: Salary Increase of 3.6%
520,000 employees are concerned by the new collective agreement. Additional cost for the companies will amount to approximately € 650m.
November 30, 2011
Positive Production Trends in Industry and Construction in August
Total turnover went up by 12.7% year-on-year and reached € 20.2bn. Employment figures increased by 1.9%.
November 30, 2011
Construction Output Increased by 1.5% from January to August
Construction of buildings was up by 6.8% while output in civil engineering declined by 6.6%. Volume of orders increased by 6.9%.
November 30, 2011
Vienna Has the Best Living Standard
The Austrian capital defended its position as the city with the highest standard of living. It is followed by Zurich and Auckland.
November 29, 2011
OECD: 2012 Brings Stagnation
The OECD forecasts only a 0.6% growth rate for Austria. The euro-zone will experience a recession.
November 28, 2011
Energy Prices Rose by 12% in October
Austrian households have to pay a significant higher price for fuel and heating oil. Against October 2010, diesel price rose by 20%. Heating oil was up by 21.4%.
November 28, 2011
Interest for A-Tec Subsidiary Brixlegg
The copper segment of the insolvent Austrian A-Tec group could find a new owner soon. An Austrian aluminum trader intends to purchase Brixlegg.
November 26, 2011
Austrian Exports to Morocco Booming
In spite of the turbulent developments in the Arab region, the Maghreb state could maintain a strong economic growth. In 2011, Austrian exports to Morocco rise by 16%.
November 26, 2011
Austrian Government Pushes for Further Austerity Measures
The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.
November 26, 2011
Production Index Up by 2.7% in September
Production index in September 2011: +2.7% compared to September 2010, -2.0% against August 2011.
November 24, 2011
Romanian Tourism as Chance for Austrian Economy
As the Romanian economy performs well, Austrian enterprises see the tourism sector as chance for new orders.
November 22, 2011
Leitl Promotes Exports to BRICS-Countries
The President of the Austrian Chamber of Commerce, Christoph Leitl, wants the exporting industries to focus more on Brazil, Russia, India, China and South Africa.
November 22, 2011
Fekter Optimistic to Hold AAA-Rating
Austria's Finance Minister expressed confidence on Tuesday that the country would hold on to its AAA sovereign rating.
November 22, 2011
Austria Falls In Recession in 2012
According to analysts of Raiffeisen Research, the Austrian economy could shrink by 0.5% in 2012. Up to now, only a small growth rate has been expected by economists.
November 22, 2011
Austrian Minister of Economics Criticizes Hungary
On the occasion of a bilateral meeting between the Hungarian and the Austrian Minister of Economics Reinhold Mitterlehner repeated his critics regarding Hungarian foreign currency loans.
November 21, 2011
Austrian Central Bank Calls for Rise in Equity for Banks
The Austrian Central Bank (OeNB) prescribes Austrian banks to raise their equity base. By 2016, a further capital base of 3.0% is required.
November 21, 2011
Austerity Measures or New Taxes?
The Austrian government has to reduce its deficits, after having announced the “debt break”. The social democrats call for property taxes.
November 19, 2011
Felderer Pleads for Pay Freeze for Civil Servants
The head of the Austrian Institute of Advanced Studies (IHS), Bernhard Felderer, suggests to stop the salary increase for civil servants next year.
November 19, 2011
Unions Put Pressure On Retail Trade
After the third negotiation round has been quitted, the Austrian trade Union starts a series of actions. Strikes are not considered for the time being.
November 19, 2011
„Debt Brake“: Government Tries to Persuade Opposition
This week, the Austrian government announced to insert a maximum debt level into the constitution. The approval of one opposition party is still missing.
November 19, 2011
Conference on European Economic Integration
“European Integration in a Global Economic Setting – CESEE, China and Russia“. Conference jointly organized by the Oesterreichische Nationalbank and Suomen Pankki – Finlands Bank.
November 18, 2011
Industrial Producer Prices Went Up by 3.5% in September
The development was mainly driven by prices of intermediate goods. Energy prices were up by 8.7% on average.
November 18, 2011
No Growth in Construction Industry in 2012
Austrian companies fear the effects of the debt brake while they still suffer from the consequences of the recession of 2009.
November 17, 2011
Austrian Firms Expect Slowing Economy
Forecasts for the Austrian economy have been deteriorating since summer 2011. The WKÖ now joins the chorus with a recent survey.
November 17, 2011
Temporary Work Increases
In 2010, 66.100 temporary workers were employed in Austria. Their number should increase up to 82.200 by 2012.
November 16, 2011
Economic Downturn Becomes More Obvious
Due to the strong development in the first half year, Austria´s economic growth will amount to 2.9% in 2011. However, for 2012 the growth rate will decrease significantly.
November 16, 2011
Austrian Inflation Decreases to 3.4%
Consumer Price Inflation decreased to +3.4% in October 2011. The main draivers are lodging and energy prices.
November 16, 2011
„Debt Brake“ for Austrian Government
As the Austrian government fears a downgrade of its rating, the coalition partners agreed to install a „debt break“. Reactions are ambiguous.
November 15, 2011
Austrian Economic Growth Slows Down
According to the Austrian Institute of Economic Research the aggregate output grew by 0.3% against the previous quarter. Exports are weakening.
November 15, 2011
Chamber of Labor Claims Reduction in Working Time
According to the Austrian Chamber of Labor, companies earn € 4,000 per employee. The Chamber asks for fair wages and a cut in working time.
November 14, 2011
Poverty: 1.0 Million Austrians Endangered
In Austria, 12% of the population is endangered of poverty. About the half of this group is permanently poor.
November 14, 2011
Stable Electricity Consumption of Austrian Households
2003–2010: Overall electricity consumption of private households rose by 3%; highest consumption in one-person households and privately owned houses.
November 14, 2011
Savings Capacity in Austrian Health Care System
Expenses for the Austrian health care system amount to 11.0% of the GDP. The savings capacity has to be exploited, politicians say.
November 12, 2011
Sharp Criticism Against Felderer
The head of the Viennese Chamber of Labor, Werner Muhm, attacks the director of IHS, Bernhard Felderer. His economic forecast is “propaganda of fear”.
November 12, 2011
Strong Growth for Exports to USA in 2012
This year, Austrian exports to the U.S. will reach the level of 2008. The export volume will amount to € 6.0bn this year.
November 12, 2011
Spindelegger: Cost Cuts and Privatizations to Save Triple-A
Annual interest payments would grow by € 3bn if Austria was downgraded by one notch.
November 11, 2011
Austria’s Tax Revenues 7.6% Higher than in 2010
The state’s total revenue was up by 8.2%, while expenditures increased by only 1.08% in the period January to September.
November 11, 2011
WIFO Sees Growing Signs of Economic Slowdown
The research institute expects a substantial decline in Austria’s GDP growth rate. Companies have already lowered their expectations for the months to come.
November 10, 2011
Car Market Grows Slightly in October
New passenger car registrations increased by 0.7%; the mark of 300,000 registrations has already been exceeded in the year 2011.
November 10, 2011
Moderate Rise in Construction Costs in the Third Quarter
The price index reached 103.5 points in the third quarter: +3.0% year-on-year, +0.3% against the second quarter.
November 10, 2011
Felderer: “Austria’s Triple-A at Risk”
The head of the IHS warns against a spillover of the Italian crisis and calls for a national debt brake.
November 9, 2011
Retail Turnover Down by 1.2%
Sales volume of food retail trade was up by 0.3% in the first nine months of the year while the non-food sector registered a decline by 1.3%.
November 9, 2011
Salaries Increase by 3.0%
For 2012, Austrian salaries will rise by 3.0% on average. This is beyond the inflation rate by 0.8%.
November 8, 2011
Growth Potential in CEE Banking Sector
The Austrian Raiffeisen Bank International has a very favourable growth outlook for six CEE banking markets representing 80 per cent of the region's total banking assets
November 8, 2011
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