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

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

Construction cost index up 3.4% y/y

Today, Statistik Austria announced that construction prices rose 3.4 percent compared to August 2009.

September 15, 2010

CEE Companies in a Turmoil

According to a study by Deloitte, last year Eastern Europe’s top 500 companies showed a clear decline in sales.

September 14, 2010

Wifo: Economy grew by 2.4 % in the second quarter

According to the Wirtschaftsforschungsinstitut (Economic Research Institute) the growth in the second quarter was due mainly to exports and investment. For the rest of the year, however, the Institute expects a slowdown in economic activity.

September 10, 2010

Slovakia increases VAT temporarily

As soon as the budget is back on its feet, the tax will be 19 percent again, according to Prime Minister Iveta Radicova. A deficit of up to eight percent is forecast for 2010.

September 9, 2010

Horváth & Partners Study - CEE remains attractive

A new study of the Horváth & Partners Management Consultants studied the success factors for setting up the subsidiaries of production sites in CEE.

September 8, 2010

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
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