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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
Imports Grow Stronger Than Exports
According to preliminary results by Statistics Austria, total imports amounted to €85.39 bn and total exports amounted to € 80.08bn in the period January to August 2011.
November 8, 2011
Concerns About Austria´s Finance
Due to missing infrastructure projects, Austria loses € 28bn year by year. The President of the Audit Court, Josef Moser, regards the situation of Austria´s finance as dramatic.
November 7, 2011
Austria Has Third-Highest Pension Costs in Europe
Austria´s expenditures for retires reached 12.7% of ist GDP. Only France and Italy surpass Austria. Sustainability of the domestic pension system improved slightly.
November 7, 2011
Wholesale Prices Still on the Rise
Austrian wholesale price index in October 2011: +6.2% against October 2010.
November 7, 2011
Scepticism in Carinthian Industry
The current situation is satisfying in the Carinthian industry. However, for the future, many industrialists are less optimistic.
November 5, 2011
Austrians Increasingly Pessimistic
According to a survey, Austrians fear that similar developments to Greece will also occur in their country. Confidence in politics still worsens.
November 5, 2011
New Speculations about Austria’s Triple-A Rating
Current rumors about a possible downgrade are unfounded, according to a ministry spokesman.
November 4, 2011
Austrian Wage Increases below European Average
Real incomes are expected to go up by 0.8% next year. The average rate for Europe will be 1.3%.
November 4, 2011
Austrian Households Control Assets worth € 471bn
Despite a declining savings rate, households remain the most important provider of capital to domestic banks.
November 3, 2011
Decreasing Importance of Blue Collar Worker´s Income
The share of wages in employed income decreases. The difference between blue collar and white collar workers further goes up.
November 2, 2011
Exports to Colombia to Surpass € 100m
Austrian exports to Colombia will exceed € 100m this year, reports the Austrian Chamber of Economics. Colombia has a strategic character for Austrian companies.
November 2, 2011
Austria Intensifies Economic Relations to Serbia
The President of the Viennese Chamber of Economics, Brigitte Jank, meets Serbian Ministers in Belgrade and sees a huge potential for Austrian companies.
November 2, 2011
Business Crime: Every Second Firm Concerned
In Austria, business crime becomes more and more obvious. Often alertness is not really given.
November 1, 2011
Austrian Unemployment on the Rise
In spite of its low level compared to other EU-countries, the number of unemployed persons increased up to 300.000 in October.
November 1, 2011
Austrian Trade With China to Double
On the occasion of the state visit of the Chinese President Hu Jintao, the Austrian Minister of Economics stated to aim a deepening of the bilateral economic relations.
November 1, 2011
Nationalization of Banks Not Excluded Anymore
According to the Minister of Economics, Reinhold Mitterlehner, in the worst case scenario a partly nationalization of banks could take place.
October 31, 2011
Nowotny Expects Lower Growth Rates
The head of the Austrian Central Bank (OeNB) Ewald Nowotny lowers the growth estimation for the Austrian economy.
October 31, 2011
Austria Keeps Lowest Unemployment Rate in EU
The EU27 unemployment rate was 9.7% in September 2011, compared with 9.6% in August4. It was 9.6% in September 2010. Austria leads the official statistics.
October 31, 2011
Austrian Industrial Production Increasing
Opposing production trends in industry and construction in July 2011; turnover +7.4%.
October 31, 2011
State Visit: Hu Jintao in Austria
The Chinese President Hu Jintao arrived in Austria. Today the official meetings with the Austrian President Heinz Fischer and the Government will take place.
October 31, 2011
Unequal Distribution of Wealth in Austria
The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.
October 30, 2011
Agricultural Exports Show Significant Rise
The Austrian agricultural exports reached almost their all-time high from 2008. Especially Italy is becoming increasingly important.
October 29, 2011
„Austria´s Triple A Not in Danger“
For the Austrian Minister of Finance, Maria Fekter, the status of the domestic economy is “well prepared”.
October 29, 2011
Austrian Industry Falls into Recession
Bank Austria’s Purchasing Managers’ Index shows a further deterioration of the economic situation. A slight recession is expected for the next months.
October 28, 2011
EU Calls for Opening of Labor Markets to Romanians and Bulgarians
The European Parliament wants a solution by the end of 2011 and does not see any negative effects on social welfare systems.
October 27, 2011
Germans Are Savings Champions Followed by Austrians
Erste Group Savings Study: Germans save most (€ 180 per month), followed by Austrians (€ 168) and Britons (€ 160). In CEE, the Czechs and Slovaks (€ 90) are the tireless savers.
October 27, 2011
Majority of Austrians Opposed to EU Rescue Package
850 respondents were asked their opinion before Wednesday’s summit meeting. 71% believe that the package is disadvantageous for Austria.
October 27, 2011
„Extend Economic Ties to Georgia“
The Austrian Minister of Economics wants to cooperate closer together with Georgia, which offers export opportunities for the Austrian industry.
October 25, 2011
Industrial Production Still Rising
Austrian production index in August 2011: +5.6% compared to August 2010.
October 25, 2011
R&D Expenses on the Rise
The largest Austrian Enterprises increased their budgets for research & development by 9.6% on average. This is slightly beyond the global average (9.3%).
October 24, 2011
WIFO Claims Property Tax
Karl Aiginger, CEO of the Austrian Institute of Economic Research calls for a significant increase in taxation of real estate and fuel.
October 24, 2011
Declining Profits for ATX Companies
Analysts expect Vienna-listed companies to report substantial lower profits. Even losses are feared.
October 24, 2011
Leitl Deepens Relations to Chinese Province Jiangsu
The Austrian President of the Economic Chamber regards the Chinese province Jiangsu as an important export market and trading partner.
October 22, 2011
Number of Staff Ill Decreasing
In Austria, the number of staff ill decreased slightly in 2010. On average, on 12.9 days staff was away sick. Sickness is becoming a main cause for retirements.
October 22, 2011
Gold Remains Popular for Austrians
27% of Austrians expect higher profits from gold than from shares, bonds or investment funds.
October 22, 2011
Companies Have Recovered from the Last Crisis
Revenues and profits of Austrian listed companies increased, while the number of employees dropped in 2010.
October 21, 2011
Increase in One-Day Car Registrations
One-day registrations of passenger cars January to September 2011: +11.6%; 6.0% of new passenger cars were deregistered within one day.
October 21, 2011
Slovak Bank Tax Is Going to Hurt Austrian Banks
On Thursday the Slovak parliament has officially approved a bank levy. The tax is one of the measures taken by the government to strengthen the Slovak budget.
October 21, 2011
Growth of Industrial Producer Prices Slowed Down in August
Prices of industrial goods gained 3.2% in August 2011. Against July, the price index fell by 0.2%.
October 20, 2011
Collective Bargaining Starts in Trade Sector
After the complicated negotiations between employers and the trade union of the Austrian metal industry, the trade sector continues. 520.000 workers are concerned.
October 19, 2011
Austrian Railways to be Widened
The EU Commission declares the Austrian South Axis to be strategically important.
October 19, 2011
Austrian Budget: 3.2% Deficit in 2012
Today, the Austrian Minister of Finance, Maria Fekter, presented the budget for 2012. The debt quota rises further until 2015.
October 19, 2011
Small Increase in Used Car Registrations
Registrations of used motor vehicles in Austria from January to September 2011: +0.8%; passenger cars +0.2%.
October 19, 2011
Vienna Again Among Top 5 in Innovation Cities Global Ranking
Boston came first again in a field of 331 cities in the Innovation Cities Global Index. This year’s among top five cities apart from Boston were San Francisco, Paris, New York and Vienna. Prague was 43th, Budapest 47th.
October 19, 2011
Growth of CEE Region Under Threat from Eurozone Crisis
The EBRD research is predicting a slow-down in emerging Europe’s economic growth next year with the continuing eurozone sovereign debt crisis posing challenges to recovery from the 2008-09 global financial crisis.
October 18, 2011
Raiffeisen's Comment on Current Developments of CEE Eurobonds
Eurobond markets felt the deteriorating market sentiment in recent weeks, reported Raiffeisen Research.
October 18, 2011
Austrian Industry Shows High Degree of Internationality
During the last decades, the Austrian industry could gain importance, which is contrarious to the European trend. In meantime, Austria has the fourth highest degree of industrialization in the EU.
October 18, 2011
Online Shopping is Booming in Austria
45% of the Austrian population already practiced online shopping. The share of enterprises using mobile broadband connections rose significantly against 2010.
October 18, 2011
Stagnation Expected in Austria for 2011
Insecurity and a lack in foreign demand will cause a massive slowdown of the Austrian economy in 2012. Consumers and companies become more cautious.
October 17, 2011
€ 4.0bn Capital Requirement for Austrian Banks
After the industrialist Hannes Androsch, also the Vice-President of the Austrian Central Bank (OeNB), Wolfgang Duchatczek, sees a need to support domestic banks.
October 17, 2011
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