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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
Austrian FDI Recovered Slightly in 2009
The value of Austrian investments abroad grew by 6% in 2009 and amounted to € 113bn. Companies still felt the impact of the crisis on their profits.
July 26, 2011
Growth in Production Is Slowing Down
Production index in May 2011: +6.7% compared to May 2010, +0.3% against April 2011.
July 25, 2011
Moderate Decline in One-Day Car Registrations
One-day registrations of passenger cars in the first half of 2011: -0.7%; 5.1% of new passenger cars were deregistered within one day.
July 22, 2011
Agricultural Exports Are Booming
Foreign demand for fruits, vegetables and other products from Austria is growing. Exports went up 21% and amounted to € 2.18bn in the first quarter of 2011.
July 21, 2011
Crisis Reaches Retail Sector
Austria’s retail industry starts to feel the effects of a high inflation rate and the euro crisis. In May, revenues declined by 2.3%.
July 21, 2011
Slight Increase in Used Car Registrations from January to June
Registrations of used motor vehicles in the first half of 2011: +2.4%; passenger cars +1.5%, lorries +1.0%.
July 20, 2011
Rise of Industrial Producer Prices Is Slowing Down
Prices of industrial goods gained 4.6% in May 2011. For the first time in six months the annual rate of change was less than 5%.
July 20, 2011
Food Prices Continue to Rise Rapidly
Within three months, prices increased by more than 8%. The Austrian Chamber of Labor asked the government to take countermeasures.
July 19, 2011
Economic Growth to Slow Down in Second Half of 2011
Real growth is predicted to fall to 0.3% in the third quarter. The forecast is based on reduced export prospects, a lower number of new orders and the euro crisis.
July 19, 2011
Prices of Household Energy Up 9.8% in June
Fuel, heating oil and gas were identified as main price drivers. Compared to the last month, a slight decline in energy prices was registered.
July 19, 2011
Wealth Growth of Private Households Comes to a Halt
Austrian households’ financial assets increased only marginally to € 462bn in the first quarter. Investments in bank bonds were the driving factor with a total of € 1.1bn.
July 14, 2011
Inflation Rate Remains on a High Level
Consumer price inflation was steady at 3.3% in June 2011. Above-average price increases were registered for traffic and foodstuffs.
July 14, 2011
Missing the Kyoto Target Will Cost Austria € 800m
Total costs of missing the target for the period 2008 to 2012 will amount to not less than € 800m. € 450m have already been spent on the purchase of certificates.
July 13, 2011
AMS Announces New Record in Job Vacancies
The number of vacancies increased by 9.7% in the first half of 2011. Nearly all industries and provinces contributed to the development.
July 12, 2011
Strong Current Account Balance Is Driven by Exports
The Austrian current account showed a surplus of € 3.8bn in the first quarter of 2011. The total amount of Austrian FDI was higher than in the full year 2010.
July 12, 2011
Strong Development of Exports in Austrian Machinery Industry
In the first three months of the year, Austrian enterprises exported machinery and metalware for € 6.04bn. Germany is the main trading partner of the industry.
July 11, 2011
Slow Recovery in Banks’ Lending Activity
Corporate loans recovered faster than loans to private households. Interest rates have increased only slightly since April 2010.
July 11, 2011
OECD Calls for Reforms and Increased Efficiency
The OECD expects growth of 2.9% in 2011 and a further decline in the unemployment rate. To maintain the country’s performance the study recommends reforms in many areas.
July 11, 2011
New Motor Vehicles: All-Time Record in First Half of 2011
January to June 2011: Increase of new motor vehicle registrations by 9.9 % to 245,396 vehicles; new passenger car registrations up 10.6%.
July 11, 2011
Economic Report 2011: Government Surprised by Quick Recovery
Experts praise Austria’s relatively stable performance during the years of crisis and call for reforms necessary for ensuring the country’s competitiveness.
July 8, 2011
Austrian Banks React to ECB’s Interest Rate Decision
The Austria banks quickly passed on the interest rate hike to their customers. Christoph Leitl regards the decision as an impediment for budgetary consolidation.
July 8, 2011
January to April: Dynamic Development in Foreign Trade
Austrian imports and exports increased by one fifth in the period from January to April 2011. The global foreign trade balance showed a deficit of € 2.08bn.
July 8, 2011
Austrian SME Increase Investments
Sentiment in the SME sector is improving: 60% are planning to grow in the medium to long term. Enterprises increasingly rely on internal financing.
July 6, 2011
Strong Increase in Wholesale Prices
Wholesale price index in June 2011: +8.9% against June 2010, +0.5% against May 2011. Main drivers were cereals, fertilizers and gasoline.
July 6, 2011
Growing Output in the Electronics Industry
The production level of 2008 will be reached again this year. Growth is mainly driven by increasing exports and a positive development in the automotive industry.
July 5, 2011
Strong Decline in Retail Trade Volume
The Austrian retailers recorded a 2.3% drop in trading volume in May. It was the fourth highest decline of all EU member countries.
July 5, 2011
Massive Increase in Household Energy Prices in May
Energy prices were up 9.7% year-on-year, while a slight decline was registered compared to the last month. Main drivers were fuel and gas.
July 4, 2011
Austrian Industrial and Construction Turnover up by 14.0%
Positive production trends in industry and construction in March 2011; turnover +14.0%. Metal industry and automotive industry are dominant factors.
July 1, 2011
New Employment Record in June
The number of unemployed fell by 2.3% to 268,866 in June. The positive development has lasted for 16 months already.
July 1, 2011
Economic Upswing Continues: Wifo and IHS Expect 3% Growth
Both research institutes revised their forecast for the current year upwards. Economic risks are also predicted to increase.
July 1, 2011
Construction Output Down by 5.1%
Austrian output of construction of buildings and civil engineering decreased by 5.1% from January until March 2011. Volume of orders fell by 3.2%.
June 30, 2011
Austria’s Foreign Trade Close to Record Level
Austrian imports and exports recovered strongly and increased by more than 16% in the year 2010. The trade balance deficit amounted to € 4.28bn.
June 30, 2011
Austrian Government Debt Grew to € 210bn
Debt of the federal sector increased by € 6.3bn, while all other sectors registered a decline. Social insurance carriers’ debt fell by 32%.
June 30, 2011
Industrial Activity Is Cooling Down
Growth of Austrian industrial production has reached its lowest level since the beginning of 2010. The rate of job creation is leveling off.
June 29, 2011
Increase in Austrian Electricity Price below EU Average
Electricity and gas are relatively expensive in Austria compared to other EU countries. The electricity price rose by 1.1% in 2009/10.
June 29, 2011
Retirement Provisioning: Austrians Put aside € 63 per Month
Retirement provisioning study 2011: Austrians prefer low-risk investments. 58% rely on the financial knowledge of their bank account managers.
June 29, 2011
Labor Force and Household Projections for Austria 2010-2050
The Austrian labor force is predicted to reach a maximum of 4.2 million in 2018. The number of households in 2050 will be up 19.8% over 2009.
June 29, 2011
Slight Decline in Company Insolvencies
Private insolvencies are on the rise, while the number of companies filing for bankruptcy is falling moderately.
June 28, 2011
Austria in the Upper Third of Comparative Price Levels across Europe
Austria recorded the eighth highest price level among the 27 EU member countries. Food and energy were found to be the most expensive segments in the country as compared to European prices.
June 28, 2011
Austrian Labor Market Relatively Stable during Crisis
A recent study shows: The labor market has weathered the economic crisis. Politicians and companies have taken the right decisions.
June 24, 2011
Further Growth in Production in April 2011
Production index in April 2011: +9.7% compared to April 2010, +1.3% against March 2011.
June 24, 2011
Significant Rise in Used Car Registrations
Registrations of used motor vehicles in May 2011: +12.3%; passenger cars +9.2%, lorries +13.5%.
June 22, 2011
Bronze Medal for Austria’s Economy
According to a study by Allianz, Germany is the euro zone country with the healthiest economy. Luxembourg comes on the second rank followed by Austria.
June 21, 2011
Austrian Financial Sector Stable – Remaining Challenges in Particular Business Segments
Stress test results show Austria’s banks to be more resistant to risks than in 2010 – Boosting equity remains on the agenda nevertheless.
June 21, 2011
Austrian Economy Growing Faster than Eurozone Average
OeNB has revised its growth forecast for 2011 upwards to 3.2%. Lower rates are expected for 2012 and 2013.
June 17, 2011
Further Rise in the Industrial Producer Price Index
Prices for industrial goods continue their upward trend: +5.1% in April 2011 compared to April 2010.
June 17, 2011
Labor Market Continues Strong Development
The number of employed, vacancies, and full-time jobs increased in the first quarter of 2011. The feared inrush of job seekers from Eastern Europe did not materialize.
June 16, 2011
Inflation Rate Decreased Slightly in May 2011
The Austrian inflation rate fell from 3.3% in April to 3.2% in May 2011. Mineral oil and food products remained the main price drivers.
June 16, 2011
Majority of Enterprises Satisfied with Business Development
According to the Economic Chamber’s business barometer, the climate for investments has improved further. Enterprises worry about labor force availability.
June 15, 2011
Further Increase in Construction Cost in May
Construction cost index in May 2011: +0.5% compared to the previous month, +1.5% year-on-year.
June 15, 2011
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