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

Manufacturing Industry Welcomes Red-White-Red Card"

IV-President Sorger: Innovative immigration system is an incentive for highly skilled workers; the abolition of the quota is a major political location signal.

February 23, 2011

Kazakhstan as a Chance for Foreign Trade

Austrian Economic Chamber promotes further development of economic relations with Kazakhstan.

February 23, 2011

Brenner Tunnel: ÖBB will not pay

The Austrian Federal Railways will only accept to build the tunnel for € 10bn, if the costs are passed on to the state.

February 22, 2011

Saving in Austria Still Popular

Erste Bank’s forecast on savings and credit trends: Austrians plan to set aside approximately € 5,460 in 2011.

February 22, 2011

Free Trade Agreement with South Korea

WKÖ: Additional trade potential for Austrian companies in South Korea for € 350m.

February 19, 2011

Austrian Industrial Producer Prices up by 4.9%

Ongoing upward trend for industrial producer prices in December 2010: +4.9% compared to December 2009; Annual average 2010: +2.7% against 2009

February 19, 2011

Shortage of Highly Skilled Workers in Austria

The lack of highly qualified employees in Austria turns into an increasingly strong competitive disadvantage.

February 18, 2011

Austria's Budget Deficit is Lower than Expected

The preliminary budget outcome for 2010 is 0.6% better than forecast. However, the results of the ÖBB could increase the deficit again.

February 17, 2011

Austrian Economic Chamber criticizes Pension System

The Premium Model of the Economic Chambers rewards working longer instead of early retirement.

February 17, 2011

Economic Indicator: 2011 Brings More Dynamism to Austria's Economy

Economic recovery has stabilized rapidly in Austria. The Bank Austria Business Indicator has climbed to a three-year high.

February 17, 2011

Vacancies in Austria up by 64%

78,900 job vacancies in the fourth quarter 2010, an annual percentage change of +64%.

February 17, 2011

Increase in Electricity and Gas Consumption

Austrian electricity consumption rises to the level before the economic crisis. Gas consumption is also showing a new record.

February 16, 2011

Real Estate Privatization: Proceeds up to € 1.5bn

According to a study, the Austrian government could generate around € 1.5bn from the partial privatization of its real estate company.

February 16, 2011

Strong Sales and Weak Profits in Austria's Retail Business

Almost all sectors recorded sales growth, but not all businesses benefited from the boom: "Sales growth is not equal to profit growth".

February 16, 2011

aws: Investments in Austria Rise Again

"Companies are investing more heavily in expanding and adding production capacity", reports the management of aws (Austria Wirtschaftsservice).

February 16, 2011

Economic Growth Decreased Slightly in the 4th Quarter of 2010

The rise of Austria's economic performance in the 4th quarter 2010 was 0.6% in real terms compared with the previous quarter. This figure does not exactly strengthen the momentum of the economy.

February 16, 2011

Construction Costs Further on the Rise

The Austrian construction cost index with new base year 2010 increases by 3.7% in January 2011.

February 16, 2011

Declining Trend in Insolvencies is Forecast for 2011

2011 brings a slight decline in insolvencies to Austria, but the economic recovery will not suffice for a substantial change in the trend.

February 16, 2011

Industrial Activity: Styria above Austrian Average

The economic barometer of the Styrian manufacturing industry is above the average of the federal provinces for the fourth consecutive year. Optimism for 2011 is increasing.

February 15, 2011

Technology Offensive in Carinthia

Very powerful R&D developments are to be observed in Carinthia: expenditure for R&D rose from 0.42% in 1993 to 2.43% according to the latest figures.

February 14, 2011

Stepic: Austria is Destroying its Business Location

The CEO of Raiffeisen International Bank (RBI), Herbert Stepic, considers the domestic business location to be in grave danger.

February 12, 2011

Austrian Unemployment Shrinks

The unemployment rate (Austrian standard) decreased from 8.9% in January 2010 to 8.5% in January 2011.

February 12, 2011

Lopatka Demands Structural Reforms and Budgetary Discipline

The State Secretary for Finance at the German-Austrian Financial and Economic Forum.

February 11, 2011

Austrian Constructing Price Index Rising

Construction output price index for building construction and civil engineering increased by 3.9%.

February 11, 2011

Sustained Growth

International economic recovery continues in early 2011. The WIFO business survey also indicates sustained growth for Austria.

February 10, 2011

Massive Increase in Public Debt

Austrian public debt could rise dramatically soon by a new calculation involving separate legal entities.

February 10, 2011

Jank: Vienna Leads in Company Start-Ups

Almost 8,000 enterprises founded in 2010, a quarter of all Austrian start-ups, comes from Vienna.

February 10, 2011

Property Restoration Provides Hopes for Growth and Employment

With the release of € 400m for thermal rehabilitation, five times as much is to be generated in sales. Up to 80% of this amount stays in Austria.

February 10, 2011

Business Climate Improves in Eastern Europe

According to the Austrian Kontrollbank (OeKB), the Business Climate Index has risen in Eastern Europe for the seventh consecutive time.

February 9, 2011

Rising Bankruptcy Fears in Eastern Europe

The Austrian Creditor Protection Association “Creditreform” foresees a further rise in bankruptcies in Eastern Europe. The economic crisis is not over yet.

February 9, 2011

Manpower Austria Increased Sales

The sales of the U.S. services group Manpower increased last year by 54% to € 130m in Austria.

February 8, 2011

Oil Prices Rose Sharply in December

The Energy Price Index (EPI) calculated by the Austrian Energy Agency rose 2.3% in December 2010 compared with the previous month.

February 8, 2011

Wholesale Price Index Strongly Rising

Austrian Wholesale price index in January 2011: +11.6% against January 2010.

February 8, 2011

Austria Savers Remain Cautious

For 67% of Austrian savers, savings’ security is a priority. High yields only plays a role for about 10% .

February 5, 2011

AMS Reports 2010 Vacancies Record

In 2010, 404,733 vacancies were reported, representing an increase of 50,575 jobs over 2009.

February 5, 2011

WIFO Promotes Expansion of the State Holding

The Director of the Austrian Institute of Economic Research wants to concentrate all Austrian state-owned enterprises in the ÖIAG.

February 5, 2011

Eder Considers European Manufacturing Industry is at a Disadvantage

For the CEO of the Austrian steel company voestalpine, the European manufacturing industry is at a disadvantage, despite innovative leadership.

February 5, 2011

Austrian Foreign Trade Figures Rising Strongly

From January to November 2010, Austrian foreign trade grew substantially. Imports and exports increased by 15.8%

February 5, 2011

Leitl Urges to Invest in the Future

Despite consolidation needs, the government has to invest more in education, research and innovation, says the President of the WKÖ.

February 4, 2011

Below Average Privatization in Austria, according to ECEG

Regarding privatizations, Austria is still far behind, according to the European Coalition for Economic Growth (ECEG).

February 4, 2011

Manufacturing Industry on the Rise

The economic barometer of the Federation of Austrian Industries (IV) grows. Production increase and stable employment are expected.

February 4, 2011

Mitterlehner Wishes to Push SMEs and Venture Capital

The Austrian Minister of Economy launches an initiative with the aim of doubling the venture capital of Austrian companies to € 400m.

February 4, 2011

Consumption Expenditure of Foreign Tourists Grows

Russian and Chinese tourists are proving to be particularly generous consumers in Austria. Overall sales rose by 23% in 2010.

February 3, 2011

National Bank Warns against Foreign Currency Loans

According to the governor of the Österreichischen Nationalbank (OeNB, Austrian National Bank), Ewald Nowotny, the sum of pending foreign currency loans in Austria is € 54bn.

February 3, 2011

Privatizations Could Raise up to € 24bn on Vienna Stock Exchange

Especially the privatization of public infrastructure and energy companies could increase the market capitalization of the Vienna Stock Exchange considerably.

February 3, 2011

Leitl Demands Support for Brenner Tunnel

The President of the Austrian Economic Chamber considers the Brenner Tunnel infrastructure project as crucial for the business location Austria.

February 2, 2011

Declining Unemployment in Austria

Uunemployment could be reduced by 4.3% even in the traditionally for the labor market difficult winter months.

February 2, 2011

Austrian Retail Trade Accelerates Economic Upward Trend

In 2010, the Austrian retail trade rose by 4.0%. Thus, this figure represents the highest retail trade growth since the 1990s.

February 2, 2011

Innovativeness in Austria Drops

In the European comparison, Austria’s innovativeness is dropping and is presently located only in the upper mid-range.

February 2, 2011

Austria's Budget Deficit is at 4.1%

Although the budget deficit is lower than expected, but the official national debt could increase considerably due to the ÖBB.

February 1, 2011