Read the latest headlines about Austria's economy, including news on inflation, growth domestic product (GDP), nation's debt and labor market
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Austrian Economic News and Analysis

Too Few New Companies?

Austria comes out of the international comparison poorly in terms of start-up companies. The major problem is the lack of venture capital, according to the studies.

November 2, 2010

Unemployment: Sharp Decline in October

Compared with the previous year, unemployment was reduced by 8%. The decline is attributed primarily to an increase in the demand for temporary workers.

November 2, 2010

Industry: Good Prospects for 2011

The general optimism in the industry leads to the expansion of production and more personnel recruiting.

October 28, 2010

Lending Policy of Banks is Stabilized

Results for Austria of the October 2010 credit business survey in the euro area

October 28, 2010

Flexible Working Hours: Top Position of Austria in Europe

Both employers and workers benefit from what the crisis achieved, according to the EU Commission. However, additional flexibility does not bring in itself greater equality.

October 27, 2010

New Budget: Details and Reactions

The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.

October 25, 2010

New Budget, New Taxes

The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.

October 25, 2010

Increase in Mineral Oil Tax likely

Economy Minister Mitterlehner speaks of a possible moderate increase.

October 21, 2010

Criticism of Austria's Allocation of Subsidies

Both the volume and the organization of the allocation of subsidies are susceptible of improvement, experts say.

October 21, 2010

IMF Considers Recovery as "Moderate and Uneasy"

Growth in Europe seems to be normalizing slowly. Dynamism is missing though, and many vulnerabilities are as yet unresolved.

October 20, 2010

Vienna Stock Exchange - Today's Winners and Losers

Daily News from the Stock Exchange

October 19, 2010

Austrian Federal Railways in Debt Crisis

Several infrastructure projects will increase the debt burden of the Federal Railways dramatically. This could bring considerable effects for the financial situation of the whole Federation.

October 19, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010

Industry Representatives are Satisfied with New Skilled Workers Regulation

Industry sees the new based immigration model based on criteria as a viable compromise.

October 18, 2010

Slight Fall in Corporate Tax

On the other hand, indirect taxes experienced an increasing trend. Despite tax competition, tax increases are expected due to budget needs.

October 18, 2010

Deal of the Social Partners on Immigration and Social Dumping

Introduction of the "Red-White-Red Card" to combat abuse in the labor market

October 17, 2010

WIFO-Boss Aiginger Calls Government for Economization

Aiginger claims for reforms in the tax system

October 17, 2010

Production Quota of OPEC Remains Stable

There was consensus in the Vienna-based OPEC. Members show their satisfaction with the current situation.

October 15, 2010

Stability Pact with Federal States Has Never Been Met

Deficits of the federal states were too high already since 2001, as well as the deficits of the federation. The surplus of the municipalities couldn´t offset them.

October 14, 2010

CEOs of Stock Exchange Alert: Vienna´s Taxation Plans Cast Investors out

The heads of Vienna´s stock exchange, Schaller and Bohl, fear that the introduction of capital and transactional taxes downgrades Austria´s capital market.

October 14, 2010

General Government Expenditure by Function (COFOG) 2009: Increases in Social Expenditure

In 2009, public finances in Austria were affected by the economic and financial crisis, leading to an increase in expenditure of 3.9%. Statistics Austria's most recent data show a 6% increase of social expenditure in the year 2009.

October 13, 2010

OeNB Governor Nowotny Contradicts the Deutsche Bundesbank

"The ECB should not give up purchasing bonds". Although the bond purchase program of the ECB was not needed in recent weeks, Nowotny wants to go on having it "in reserve”. The German Bundesbank warns of a too late withdrawal.

October 13, 2010

Wholesale price index plus 7.1%

The index of wholesale prices, WPI 2005, amounted to 112.8 (preliminary value) in September 2010 and has increased by 1.1% against August 2009.

October 8, 2010

Austrian Statistics - Exports and imports increased more than 12%

According to preliminary results, total imports amounted to 62.84 bn euro and total exports amounted to 61.13 bn euro in the period January to July 2010.

October 8, 2010

Austria is Getting More Popular Among Arab People

Arab tourists find Austria increasingly pleasant. So far this year, the number of arrivals between January and August grew by 21% to 91,600 as compared to the same period of the previous year.

October 8, 2010

Credit Monitor: Further Decline in Foreign Currency Loans

Such is the development of domestic loans to non-banks in July 2010

October 6, 2010

Qualified Workforce: Austria’s Target is to Attract Skilled Immigrants

ÖAAB General Secretary Lukas Mandl: "Germany has long been an immigration country. Austria also has to become one. Austria’s target should be to attract skilled immigrants, after identifying the needs."

October 6, 2010

European Cities Monitor 2010 - Vienna is the biggest mover

According to Cushman & Wakefield research, this year Vienna is the biggest mover, rising up the ranking by six places to 22nd place.

October 5, 2010

FDI - Austrian enterprises still expanding abroad; foreign enterprises in Austria stagnate

In 2008, Austrian enterprises still expanded their shares in foreign enterprises. 4 899 Austrian affiliates abroad meant a 14% rise in comparison to 2007.

October 5, 2010

Household Energy: Prices Rose by 5.4%

Households have to pay on average 5.4% more for energy in Austria than one year ago. Diesel is 10.4% more expensive in the yearly comparison.

October 4, 2010

Austria: Economic Recovery Continues

OeNB economic indicator: After the exceptionally strong economic recovery for the first half year, the Oesterreichische Nationalbank (OeNB) expects sustained high economic dynamics in Austria for the second half year.

October 1, 2010

Vienna now has its own Expat Center

In Vienna, the first Expat Center in Austria was opened. The project was handled by the Vienna Business Agency (former WWFF).

September 30, 2010

Austria exceeds the Maastricht GDP reference value by 0.5%

Public Finances 2009: Public deficit increases to 3.5% due to the economic and financial crisis.

September 30, 2010

Unemployment - Total number of persons unemployed down by 12.5%

In the third quarter of 2010, the total number of persons unemployed according to international definitions was 194,100, a decrease of 27,700 persons (-12.5%) compared to the third quarter of 2009.

September 30, 2010

Austria - Construction orders down by 4.6% in June

Volume of orders in construction of buildings and civil engineering decreasing by 4.6% at the end of June 2010.

September 29, 2010

Austria - Construction output down by 9.1%

Output of construction of buildings and civil engineering decreasing from January to June 2010: -9.1%

September 29, 2010

Austria - Turnover in industry and construction in June 2010 up 14.3%

60,657 enterprises in the entire industry and construction sector turned over a total of EUR 19.7 bn.

September 29, 2010

EU: Austria's Actual Net Contribution has Risen to 342 Million Euro

The net contribution to the EU rose again last year. Poland, with 6.5 billion euro is for the first time the biggest net recipient. Germany remains the biggest net payer with 8.1 billion euro.

September 28, 2010

Insolvencies: Declining Trend for Both Companies and Individuals

KSV expects 10% less insolvencies for 2010, but warns about the consequences of fiscal budget adjustment.

September 28, 2010

CEE Real Estate: Outlook is brightening

CEE real estate stocks are currently in a phase of brisk corporate action. Financially sound companies with attractive assets are interesting takeover targets, while other companies are being taken over.

September 27, 2010

Austrian tourism - summer season 2010 plus 1.1%

The most important summer month stabilizes the positive development of the current season (+1.1%)

September 24, 2010

Economy - Registrations of motor vehicles up in August

Registrations of used motor vehicles in August 2010: +9.9%; passenger cars +11.4%, lorries +6.6%. A total of 85 041 registrations of used motor vehicles were observed in August 2010, which is 9.9% more than in August 2009.

September 23, 2010

Austria's Management and Supervisory Boards’ Salaries on the Test Bench

The partly state-run OMV had the most expensive board of all Austrian corporations in 2009. In total, the oil company spent 10.2 million euro on its bosses, 23.4% more than the previous year.

September 20, 2010

Industrial Producer Prices are Raising

Increasing upward trend of industrial producer prices in July 2010: +4.2% over July 2009; +0.4% compared to June 2010

September 17, 2010

Export Indicator: The Economy is Expanding

According to the current results of the OeNB export indicator calculated on the basis of trucking mileage performance data of September 2010, the Austrian export economy has also expanded in the two summer months.

September 17, 2010

Labor market: Reduction of Full-Time Jobs Hits Women Hardest

As Statistik Austria reports, in the second quarter about 11,600 people less than last year sought work in Austria

September 17, 2010

CESEE Bank Conference: Joint Supervisory Academy in Vienna

Finance Minister Josef Pröll wants to create common standards for the CEE region with an Eastern Bank Supervisory Academy in Vienna.

September 17, 2010

OeNB: First-time Increase of Banks’ Total Assets Since End of 2008

By the end of June 2010 the unconsolidated total assets of the reporting banks in Austria amounted to 1037.98 billion euro.

September 16, 2010

Unemployment rate down 4.4%

Stable labour market in the second quarter 2010; more men and less women were employed than in the second quarter 2009.

September 16, 2010

Consumer Price Inflation down at 1.7 % in August 2010; HICP 1.6 %

August inflation down to the lowest rate since February

September 15, 2010