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

Austrians are Patriots when Shopping for Food

A majority of Austrian consumers puts emphasis on the domestic origin of food.

April 27, 2011

New High for Austria´s New Indebtedness

Austria´s budget deficit for 2010 is at 4.6%, which is the highest one in the last 15 years. However, the average of EU-countries is even higher.

April 27, 2011

Shipping on the Danube is Far Below its Potential

Capacities are only being utilized in modest proportions on Austria’s main waterway. Investments in expansion would be necessary.

April 23, 2011

Rising Production in Austrian Industries

Austrian Production index in February 2011: 8.9% over February 2010

April 23, 2011

aws: Willingness to Invest in Austria’s Manufacturing Industry Grows

The investment projects promoted from January to March 2011 were larger and more ambitious than one year ago.

April 22, 2011

Texas Offers Opportunities for Austria's Energy Industry

Texas imports goods for US$ 614m from Austria. There are prospects for growth in wind and solar energy above all other areas.

April 22, 2011

Rising Number of One-Day Registrations of Cars

One-day registrations of passenger cars in the first quarter 2011: +5.6%; 5.1% of the new passenger cars were deregistered within 24 hours

April 22, 2011

More Unemployed are Looking for Full-Time Jobs Than at the Start of the Crisis

The Austrian Chamber of Labor criticizes that despite the economic boom there are less full-time jobs available than before the economic crisis.

April 21, 2011

WKÖ on Mongolia: "A Country with Development Potential"

The Austrian Economic Chamber sees a huge trade and investment potential for the domestic economy in the sparsely populated country.

April 21, 2011

Insolvencies on the Rise Again

Although insolvencies for the full year 2010 decreased by almost 6%, there sees to be a trend reversal in the first three months of 2011.

April 19, 2011

Prices for Industrial Goods still on the Rise

Industrial producer prices are still increasing in Austria: +5.3% in February 2011 compared to February 2010.

April 19, 2011

Moderate Increase in Used Motor Vehicles

Registrations of used motor vehicles from January to March 2011: +6.2%; passenger cars +5.8%, lorries +3.9%

April 19, 2011

Austrian Research Intensity Expected to be 2.79% of GDP in 2011

According to an estimate of Statistics Austria, for the first time presumably more than €8 billion will be spent on research and experimental development (R&D) in 2011.

April 19, 2011

Financial Problems in Austrian Municipalities

The revenue of Austrian municipalities should not be fall further in 2011, however, new expenditures will be caused by additional competences.

April 16, 2011

Inflation went up to 3.1%

Austrian Consumer Price Inflation increased to 3.1% in March 2011 - the main drivers are energy and food prices.

April 16, 2011

Real Purchasing Power: The Gap Between Austria and the CEE Region is Getting Smaller

For the coming years, a steady rise in unit labor costs in the CEE countries with the corresponding impact on the competition for business locations is expected.

April 16, 2011

Austrian Construction Costs Increase Further

Construction cost continued to increase sharply in March 2011: +3.3% against 2010.

April 16, 2011

Austria Fell for the First Time in the International Property Rights Index

The IPRI compares 129 different countries for their economic benefits in strong protection of land, intellectual property and other private property.

April 15, 2011

ÖBB Debt Reduction is Further Delayed

The debt of the Federal Railroad increases dramatically through the acquisition of a 25% share in the Brenner Base Tunnel (BBT) project,

April 15, 2011

Households are Relying Increasingly on Managed Financial Products

Almost half the savings of Austrian households were invested in mutual fund shares, life insurance or pension funds, i.e. in managed financial products.

April 15, 2011

ÖBB Promote Construction of the Brenner Tunnel

After the ÖBB detached themselves from the financing of the Brenner tunnel in February, an agreement was reached with the Ministry of Finance.

April 14, 2011

Austria's trade as a Job Creation Engine

77,000 jobs were created by trades and crafts in the last eight years. The manufacturing industry lost 17,000.

April 14, 2011

Austria's Labor Costs above EU Average

An hour of work costs an Austrian employer an average € 28.00 - six euro more than the EU average.

April 13, 2011

Monthly Expenditures of Austrian Households: € 2,910

Household Budget Survey 2009/10: Monthly expenditures for housing and energy account for 24%.

April 12, 2011

No Rush Expected on the Labor Market after the End of the Transitional Periods

After 30 April 2011, an additional access to the Austrian labor market of about 11,500-16,500 people annually from Hungary, the Czech Republic and Slovakia is expected.

April 12, 2011

Registration of new passenger cars increased by 7.8%

New vehicle registrations in Austria in first quarter 2011: +15.4%; passenger cars +15.7%, almost one-third more lorries.

April 11, 2011

Hundstorfer and Leitl Promote Increase in Retirement Age

The Austrian Minister of Social Affairs as well as the Head of WKÖ (Austrian Economic Chamber, Christoph Leitl, want to reduce public payments for pensions.

April 11, 2011

Styria: "The crisis is over"

The Austrian Institute of Economic Research (WIFO) considers that the federal province hit extremely hard by the economic crisis has resumed the upward trend.

April 9, 2011

Leitl: Export Year 2011 Started in a Fulminant Way

Exports increased in January by 26%; the target for the full year is to achieve the pre-crisis year’s record export volume of € 117bn.

April 9, 2011

Leitl: "Austria is Very Well Positioned for the Opening of the Labor Market"

Experts estimate immigration potential to be between 15,000 to 25,000 people; gains from migration for Austria, as from 1 May, about € 900m.

April 8, 2011

Austrian R&D Expenses on the Rise

R&D expenditures of Austrian firms increased by 3 per cent in 2009 despite the crisis.

April 8, 2011

Massive Increase in Wholesale Prices

Wholesale price index in March 2011: +12.1% against March 2010. Cereal and feeding stuff prices almost doubled.

April 7, 2011

Saving in Austria Decreases

According to Statistics Austria, Household saving rate down to 9.1% in 2010.

April 7, 2011

Austria's Economy Remains Small Structured

About 238,000 or 55.6% of the members of the Economic Chamber are one-person enterprises. Their proportion has even risen slightly recently.

April 7, 2011

Renewable Energy as a Sustainable "Job Driver"

For the President of the Chamber of Agriculture (LK, Landeswirtschaftskammer Österreich), Gerhard Wlodkowski, renewable energies secure an edge on technology and high-quality jobs.

April 6, 2011

Economic Growth in CEE and Austria Remains Solid

Concerning the equity markets as well as the economic circumstances, Raiffeisen Research is quite optimistic. In 2011, a further economic recovery is expected.

April 6, 2011

Central Asia as a Region of the Future for the Austrian Export Business

The Austrian Federal Economic Chamber (WKÖ) sees excellent delivery and investment opportunities for the domestic economy in Central Asia.

April 6, 2011

Forecast: Austria's Economic Growth in 2011 at 2.5%

The upswing in the first half year continues mainly due to strongly growing exports. A flattening of growth is expected after this.

April 2, 2011

Austrian Industrial Production on the Rise

Positive production trends in industry and construction in December 2010; turnover +15.8%

April 2, 2011

Southeastern Europe as a Region of Hope for Austria

Great interest of Austrian companies at the Austria Foreign Trade Forum on Export and Investment Opportunities in Southeastern Europe

April 2, 2011

Austria's Unemployment Continues to Fall

Unemployment decreased in March by 5.2%. The number of participants in training courses is also falling.

April 2, 2011

Mitterlehner: New Modernization Partnership Concluded with Russia

Minister of Economy: Investment opportunities for companies boost exports to Russia: innovations and new technologies as growth drivers.

April 1, 2011

Importance of Danube as Transport Route Increases

Freight transport volume on the river Danube increased by 18.6% in 2010. Goods receipt rose by 25.4%.

April 1, 2011

Austrian Public Deficit up to 4.6%

Public Finance 2010: Public deficit at 4.6%, public debt at 72.3% of GDP

April 1, 2011

Leitl Demands Reduction of Public Debt

The President of the Austrian Economic Chamber sees potential for efficiency in the administration, as well as in the health and pension system

April 1, 2011

Austrians are among the European Leaders in Pension Duration

Austrians currently spend an average of over 23 years in retirement; this is about twice as long as in 1970. Austria ranks second in Europe in this respect.

March 31, 2011

OeNB: "Positive Signals from the Banking System"

The expected consolidated net income of Austrian banks rose to € 4.58bn, generated in large part on foreign markets.

March 30, 2011

Mixed Results for Crafts and Business Enterprises

Austria's business establishments are struggling especially with strong price pressures. Growth is moderate.

March 30, 2011

Mitterlehner Intends to Expand Economic Relations with Malaysia

A work meeting was held in Vienna with the Malaysian counterpart. New export opportunities exist primarily through eco-innovation.

March 30, 2011

Foreign Capital Inflows Make a Comeback to CEE

Foreign direct investments picked up by 9% in CEE; Czech Republic scored best in attracting FDIs, says Erste Group.

March 30, 2011