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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
Austria´s Manufacturing Industry Maintains its Competitiveness
Austrian goods exports rose significantly since 1995. According to a study of the Austrian Central Bank (OeNB), this is mainly due to a higher degree of competitiveness.
October 17, 2011
CEE Less Vulnerable to Severe Economic Crisis
The reaction of the CEE region to the global slowdown should be less severe than in the post-Lehman crisis, as CEE economies are in a completely different stage of their economic cycle and have reduced their imbalances.
October 17, 2011
Austrian Economy Cooling Down Rapidly
Drastic deterioration in industrial climate and consumer sentiment point to a break in the economic recovery in the second half of 2011.Economic outlook for 2012 lowered to just 1.4 per cent.
October 15, 2011
Still Danger of Overheating in SEE Property Markets
According to the “Bank Austria Real Estate Country Facts”, commercial property markets in Croatia, Serbia and Slovenia are gaining ground, but risks of overheating remains.
October 15, 2011
Austria Ranks Third in EU Productivity Study
The report points out structural weaknesses and suggests more effective public spending in the fields of education, research and innovation.
October 14, 2011
Inflation Rises to Highest Level in Three Years
Consumer price inflation rose to 3.6% in September, the highest value since September 2008. Mineral oil products remained the main price driver.
October 14, 2011
Innovation Indicator 2011: Austria Has Improved Markedly
In a ranking of 26 industrialized countries, Austria has risen to the eighth place. The R&D ratio has climbed to 2.8% of GDP.
October 13, 2011
Polish Foreign Trade Will Increase by 125% by 2025
The world trade will increase only by 73%, states the report of HSBC Trade Connections. The document presents forecasts for the international trade in the perspective of several years.
October 13, 2011
Private Insolvencies on the Rise
The number of private insolvencies rose by 6%, while the number of companies filing for bankruptcy declined by the same rate from January to September.
October 13, 2011
OeNB: Austrian Economy Is Stagnating
Uncertainty about the global economic development has reduced business and consumer confidence in Austria.
October 12, 2011
Slovakia Against the Enlargement of the Euro Zone Bailout Fund
After six hours of heated debate Slovak lawmakers failed to approved the European Financial Stability Fund (EFSF).
October 12, 2011
Czech Consumer Price Index Increased by 1,8% Compared to September 2010
According to research released by the Czech Statistical Office, consumer prices decreased in September by 0.2 %, month-on-month.
October 12, 2011
Hungarian Consumer Price Index Increased by 3,6% Compared to September 2010
In September 2011 consumer prices increased by 3.6% compared to September 2010, it was the same rate as in the previous month, registered the Hungarian Central Statistic Office.
October 12, 2011
Austrians Save € 168 per Month
With a share of 86%, the savings passbook is still the most popular form of saving while the interest in ecological, ethical and social investments is growing steadily.
October 12, 2011
„Austrian Banks Are Robust“
Ewald Nowotny, the head of the Austrian Central Bank (OeNB) as well as the Minister of Finance, Maria Fekter, appreciate the announcement of Erste Group.
October 11, 2011
Car Registrations Still on the Rise
First three quarters 2011: new car registrations increased by 8.8%; September 2011 +9.4% in Austria. Motor vehicle registration was up by 7.7%.
October 11, 2011
€ 2.7bn Profits Due to Rededications
According to a new study by Kreutzer, Fischer & Partner, 280km2 of agricultural area were rededicated into building area from 2007-2011. Yearly profits therefrom amount to € 2.7bn.
October 10, 2011
Trainees in Vienna „Not Satisfied“
A study of the Viennese chamber of labor published, that a large number of trainees is not satisfied with their apprenticeships.
October 8, 2011
Austrian Government: Sharp Critics from Industrialists
The Federation of Austrian Industries (IV) attacks the government massively. For the industrialists, the new taxation plans are not acceptable.
October 8, 2011
State Visit: "Huge Potential for Austrian Companies in India"
The Indian President Shrimati Patil absolved a state visit in Austria and met the Austrian President Heinz Fischer and the head of the Austrian Economic Chamber, Christoph Leitl.
October 8, 2011
Private Consumption Remains Strong
Despite growing fears of an economic downturn, the Austrian consumer climate is still positive.
October 7, 2011
Wholesale Prices Continue Upward Trend
Wholesale price index in September 2011: +6.4% against September 2010, +0.6% against August 2011. Main drivers were coffee and oil products.
October 7, 2011
Massive Increase in Global Foreign Trade Deficit
January to July 2011: import trade volume of € 75bn, export trade volume of € 71bn. The global foreign trade deficit increased from € 1.86bn to € 3.89bn.
October 7, 2011
New Record in Agricultural Foreign Trade
The first half of 2011 brought double-digit growth rates in all product categories. Exports to Hungary increased by 43%, making it the number three buyer country.
October 6, 2011
Decreasing EBIT for Austrian SME
Domestic Small and Medium Enterprises record a decline in their return on investment. Lower finance costs could offset this effect. 40% of all SME are in the red zone.
October 5, 2011
Austrian Exports to Rise Substantially
Austrian exports record satisfying results in the first six months of 2011. Austria´s trade balance shows a plus of € 4.4bn.
October 5, 2011
FDI Remains Essential for Austrian Business Location
According to a study of Statistics Austria, the number of foreign subsidiaries even grew in 2009 by 6%. The number of Austrian subsidiaries owned by foreign corporations grew slightly.
October 5, 2011
Androsch „Another Three to Four Billions for Hypo Group“
The former Minister of Finance, Hannes Androsch fears a loss of Austria´s AAA-rating. “We are being observed accurately.”
October 4, 2011
Ranking: Austria Among the Most Non-Transparent Financial Centers Worldwide
Today, the Financial Secrecy Index (FSI) of the Tax Justice Network (TJN) has been published. 73 countries have been analyzed.
October 4, 2011
Mitterlehner: „Settlement of Headquarters Key Question for Austria“
The Austrian Minister of Economics, Reinhold Mitterlehner, wants to push the development of the domestic location through improving framework requirements steadily.
October 4, 2011
Economic Crisis: Austrians Pessimistic
The majority of Austrians thinks that the economic crisis will persist and will become even worse.
October 1, 2011
Slight Increase in Unemployment
Austria´s unemployment grew by 1.9% in September 2011. The main reason is the lower number of trainings.
October 1, 2011
Wifo/IHS: 2012 Brings Collapse of Economic Growth
The research institutes cut their growth forecasts for the Austrian economy by 50%. Unemployment numbers are expected to increase.
September 30, 2011
Public Debt Increased to 71.8% of GDP in 2010
Austrian public finance 2010: Public deficit up to 4.6%, public debt grew by 2.3 percentage points.
September 30, 2011
Growth in Industrial and Construction Turnover Slows Down
Opposing production trends in industry and construction in June 2011; turnover +4.5%. Energy supply and metal industry are dominant factors.
September 29, 2011
Construction Output Increasing by 1.2% from January to June
Austrian output of construction in the first half of the year: construction of buildings +6.8%, civil engineering -6.6%. Volume of orders grew by 4.1%.
September 29, 2011
Strong Decline in Company Insolvencies
The number of private insolvencies rose rapidly from January to September, while the number of companies filing for bankruptcy dropped significantly.
September 28, 2011
Stagnation in Food Retail Sector
Total revenue of the sector grew by only 1.9% in 2010. The market is ruled by retail chains which own 98% of total selling space.
September 28, 2011
Austria Catches Up as IT Business Location
According to the Economist Intelligence Unit, Austria could improve its position as IT business location and went from rank 22 to rank 17.
September 27, 2011
Level of General Financial Education in Austria “Not Satisfactory”
Latest survey shows: 4 in 10 Austrians don’t even know where to start when defining term “interest”.
September 27, 2011
Austria´s Triple A „Not Endangered“
From a global view, 18 countries have a “AAA-status”. The current debt crisis makes market observers nervous.
September 26, 2011
“Austrian Exports to Turkey to Double“
According to the Austrian Chamber of Commerce in Istanbul, Austrian companies could benefit strongly from the persisting economic boom in Turkey.
September 26, 2011
Production Index Up by 4.4% in July
Production index in July 2011: +4.4% compared to July 2010, -1.3% against June 2011.
September 23, 2011
Management Rewards Rise Considerably
In 2011, Austrian managers benefit from an increase of their salaries by 4.1% on average. Most of the Austrian managers receive additional payments.
September 21, 2011
Austrian Population Forecast 2050: Growth from 8.4m to 9.4m People
The Austrian population is growing – and becomes older. In 2030, 9.0m people will live in Austria, 9.4m in 2050.
September 21, 2011
IMF: Austrian Growth Slabs
The IMF expects the Austrian economy to grow by 3.3% in 2011. Next year, GDP growth should fall to 1.6%.
September 20, 2011
Austrian Unit Labor Costs Down in 2010
The Austrian competitiveness improved in 2010. Against 2010, unit labor costs decreased by 5.5%.
September 20, 2011
FPÖ Claims New Currency Area
The chairman of the Austrian Freedom Party, Heinz-Christian Strache, calls for the creation of a “core Europe” with a new currency.
September 19, 2011
Increasing Equity Quotas of Austrian SME
The average equity quota of Austrian SME in 2009/2010 was 28%. This is an improvement against the previous years. However, 30% of SMEs are overindebted.
September 19, 2011
Moderate Upward Trend for Industrial Producer Prices
Rise of the Austrian industrial producer prices in July 2011 by 3.6% compared to July 2010.
September 19, 2011
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