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

First half-year 2010: trade volume of more than 50 bn euro in both trade flows

Austrian imports increased by 12.3% and Austrian exports rose by 12.5% compared to the same period in 2009.

September 7, 2010

Wholesale price index in August up 5.6%

Wholesale price index in August 2010: +5.6% against August 2009

September 7, 2010

Turnover in Services Sector increased by 1.9% in the first half of 2010

Based on results for the first half of 2010, turnover of Austrian services enterprises at nominal values rose by 1.9% compared to the first half year 2009.

September 6, 2010

The Austrian electricity price index ÖSPI is to decline in October

The electricity price index for October 2010, calculated by the Austrian Energy Agency (Österreichische Energieagentur), indicates that in October prices of electric energy will fall.

September 6, 2010

Vienna's unemployment rate drops by 1.8 percent

By the end of August the number of registered jobless in Austria's capital Vienna dropped by 1.8 percent y/y to 71,098.

September 1, 2010

Registration numbers of new passenger cars are up

Provisional number of new passenger car registrations in August 2010: +10.4%.

September 1, 2010

OeNB: less corporate loans, but more private loans in June

Austrian Central Bank OeNB reported that in June the volume of new loans extended to private households reached the highest level this year, while the value of new corporate loans dropped.

September 1, 2010

Unemployment rate - Ten percent in euro area

Austria continues to exhibit lowest unemployment rates.

August 31, 2010

EVN: long winter driving profits

The energy supplier earned €204.9m ($261.6) in the first nine months of the current fiscal year, 16.7 percent more than a year ago. The long winter in Austria helped.

August 30, 2010

Austrian Banks in Central, Eastern and Southeastern Europe

According to a recent comparative study from the Austrian Central Bank (OeNB), the long-term commitment of Austrian banks in Central, Eastern and Southeastern Europe (CESEE) offers good prospects.

August 27, 2010

Austria - Production index +5.7%

The seasonally adjusted production index for the Production Area (NACE 2008 B - F) (base year) recorded a 0.6% decrease in June compared to May 2010, according to calculations by Statistics Austria.

August 24, 2010

Bankruptcy wave in Eastern Europe

In 2009 Eastern Europe registered 44 380 company failures, which accounts for over 44 percent more bankruptcy cases than in 2008. In Western Europe, the increase was 18.6 percent, Austria performed well with 9.3 percent.

August 20, 2010

AWS - Increasing demand for small loans

According to the Austria Economic Service (AWS) a significant increase in demand for small loans was registered in the first half of 2010.

August 17, 2010

Construction costs in July 2010: + 3.5% year-over-year, slight decrease compared to June 2010

Austria's Economy - The construction cost index for construction of residential buildings reached 119.6 index points in July 2010.

August 16, 2010

Inflation in Austria fell slightly

Inflation in Austria fell from 2.0 to 1.9 percent in July on an annual basis. The main drivers were price increases for housing and fuels, which are responsible for half of the increase in CPI.

August 16, 2010

Austria attracts World Bank

Austria has concluded agreements for an official residence of the World Bank Group. It provides privileges similar to those of diplomats for employees of the international organization.

July 22, 2010

Banks-Stress Test - Friday evening moment of truth

At 6pm the Association of European Banking Regulators publish the result of the test of 91 European financial institutions. In Austria, Erste Bank, RZB and Bank Austria will be tested.

July 21, 2010

Banks' equity - "Basel III costs 46 000 jobs"

The stricter rules for the equity of banks will reduce lending by up to 20 percent, says the Institute for Advanced Studies (IHS) in Vienna.

July 21, 2010

Rise in industrial production prices

New rise in industrial production prices in May 2010: +0.8% from previous month, +2.9% compared to May 2009.

July 20, 2010

East-Europe Bank - "Hungary carries risks of infection"

The proposed bank tax against the wishes of the IMF is not a good sign, says the head of the European Bank for Reconstruction and Development (EBRD).

July 20, 2010

Mitterlehner calling for judicious austerity measures

Economics Minister Reinhold Mitterlehner warns EU countries about excessive savings. "Instead of linear cuts, you should save intelligently. Otherwise, domestic consumption is decreased too much," said Mitterlehner.

July 19, 2010

OeNB stresses its commitment to reform

The Austrian National Bank (OeNB) has announced its continuation of current reform policy, in light of stringent austerity measures announcement. Simultaneously, the OeNB said in a press release that its nationalisation has no impact on its independence

July 19, 2010

Hungary rejects additional austerity measures

Hardened front between the Hungarian government on the one hand and the International Monetary Fund (IMF) and the EU on the other side: highly-indebted Hungary has ruled out further austerity measures.

July 19, 2010

Banks threaten with drastic job cuts

Bankers warnings on impact of the stricter financial rules, five to ten thousand jobs are threatened.

July 19, 2010

EURO - Confidence returns

Patient Euro is on the road to recovery. Europe's debt crisis and the financial problems mainly of Greece greatly affected the exchange rate earlier this year. Now, the Euro regains strength. After the low of $1.18, the Euro recovered step by step rising

July 16, 2010

Economy shrank by 3.9 percent in 2009

The Austrian economy has shrunk even more in 2009 than previously expected.

July 16, 2010

Stress tests - according to Cernko, Austrian Banks in the bottom third

Referring to speculation according to which Austrian banks with their relatively low equity ratio should not perform that well, Bank Austria CEO Willibald Cernko said "If one considers capital only, they will be at the top of the bottom third."

July 15, 2010

Expensive oil products - Inflation rises to 2.0 percent

The inflation rate was held high in June compared to last year due to higher prices of petroleum products.

July 14, 2010

Stress tests could be price-sensitive information

At the political level it is fiercely debated how detailed the publication of the stress test should be. The FMA currently tests whether the stress test results are stock market relevant, compulsory publications.

July 14, 2010

Stress tests pose problems

Results of stress tests will be published later than expected - assumptions behind tests create uncertainty.

July 14, 2010

Nowotny - raising the "retirement age"

Higher life expectancy, rising deficits: Austrians should therefore delay retirement, says National Bank's CEO Nowotny.

July 13, 2010

Local banks in stress test "within normal range"

OeNB Governor criticizes EU Commission: State aid procedure too long - debt reduction, dampening the economy Austria's banks performed within "the normal range, in midfield," the Governor of the Austrian National bank (OeNB) and Governing Council memb

July 13, 2010

Slowdown expected in the third quarter

A return to recession is not expected according to economists at Bank Austria, but the peak was now surpassed.

July 13, 2010

UniCredit's Profumo proposes 20-billion rescue fund

Head of Bank-Austria parent UniCredit, Alessandro Profumo, has announced his ambitions for a privately financed € 20 billion heavy rescue fund for troubled European banks.

July 12, 2010

Transaction tax - OECD European solo attempt

According to Jeffrey Owens, head of the OECD's tax department, a transaction tax only makes sense if it relates to the financial centres on a global scale.

July 12, 2010

Crisis causing private bankruptcy

Unemployment and less income: more than 50,000 people last year turned to a debt counselling bodies.

July 12, 2010

Pröll on economic status quo, "thunder and lightning are over"

The EU has demonstrated that "it is able to act in one of the worst crises, even if there were some mistakes," says Austrian Finance Minister Josef Pröll.

July 12, 2010

Foreign Trade Deficit, despite growth

Statistik Austria has published Austria’s trade balance. There are, increases in imports and exports.

July 12, 2010

The high debt burden of Austria as target for speculators

In the crisis years 2008, 2009 and 2010, the public debt mountains are exploding. In the EU, the debt within three years has increased from 60 to 80 percent of GDP.

July 9, 2010

International companies discover Austria again

In the first half of 2010, 93 companies settled in Austria; in the same period in 2009 there were only 84. Total investment volume tripled from €37m ($46,95m) to almost €103m ($130,69).

July 8, 2010

Fight against early retirement - Companies should pay

The Wifo suggests that firms should pay if their employees are sick and are sent into early retirement.

July 8, 2010

Stress tests - Erste Bank and RZB on the list

91 European banks will have to undergo stress tests of European regulators. Two Austrian institutions will be tested as well.

July 8, 2010

Hungary rejects amendments to bank levy

At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.

July 7, 2010

More private consumption in Austria

In Austria the private consumption expenditure has increased by 0.3 percent in the first quarter of 2010.

July 7, 2010

OECD’s criticism of low labour force participation of older people

In Austria, the labour market has weathered the global economic crisis better than most other OECD countries.

July 7, 2010

Austrian companies are innovative

More than half of domestic companies may be the labelled innovative.

July 6, 2010

Higher property tax could bring a billion

A convergence of calculation basis to real market values could, according to the Wifo, generate additional income of half a billion Euros.

July 5, 2010

Lending decreased in April

More long-term loans to enterprises, decline in foreign currency loans in private sector.

July 5, 2010

Short-time work massively reduced

At the height of the crisis in April 2009, 57 000 employees were short-time workers , there were only 8313 at the beginning of July 2010.

July 2, 2010

Unemployment in euro countries unchanged

Lowest rate in Austria - Spain and Latvia, most affected Unemployment in the 16 euro countries will remain unchanged at high levels. In May the rate was ten percent, as the European statistics agency Eurostat announced on Friday in Luxembourg.

July 2, 2010