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
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
Stagnating Level of New Bank Lending
Loan development in the first quarter: increase in long-term lending, but decline in total corporate lending volume.
June 10, 2011
GDP Growth Lower than Expected
Instead of 1.0%, the growth rate in the first quarter was only 0.9%. A plus of 4.2% year-on-year was registered.
June 10, 2011
Further Rise in New Car Registrations
Registrations of new motor vehicles in May 2011: +19.7%; passenger cars: +18.4%, lorries: +25.3%
June 10, 2011
Nuclear Power Phase-Out Will Cost Austria € 600m
According to calculations by E-Control, Germany’s decision to close down its nuclear power plants will affect the Austrian economy.
June 9, 2011
Economic Growth Is Based on Households and Exports
In 2010, Austrian economic output grew stronger than the Eurozone average. GDP amounted to € 284bn.
June 8, 2011
Slight Drop in Wholesale Prices
Austrian wholesale price index in May 2011: -0.9% against April 2011, +8.1% against May 2010. Main drivers were cereals, fertilizers and coffee.
June 8, 2011
Strong Growth in Foreign Trade in the First Quarter of 2011
Austrian imports and exports increased by 22% in the first three month of the year. In March, trade volume amounted to more than € 11bn in both directions.
June 7, 2011
CEO of Verbund Expects Steady Increase of Electricity Price
Anzengruber demands faster approval procedures for the expansion of infrastructure in order to keep prices on an affordable level.
June 1, 2011
Austria Has 37,000 Dollar-Millionaires
Global wealth has grown by 8% in the last year. Austria is found among the countries with the highest concentration of millionaires.
June 1, 2011
Further Decline in Unemployment Rate
Compared to May 2010, the number of unemployed persons decreased by 2.5%. In April, Austria recorded the lowest rate among all EU countries.
June 1, 2011
Bank Austria: Austrian Industry Cooling Down
Growth of industrial production has slowed down in Austria, especially in the export sector. Job creation is still on a high level, but also losing pace.
May 31, 2011
Rail Freight Transport Increased in 2010
The volume of goods transported on Austrian railways increased by 8.9% in the last year. However, it is still below the level of 2008.
May 31, 2011
Decreasing Output in Austria’s Construction Industry
Output of construction of buildings and civil engineering decreasing by 8.6% in January and February 2011. Increase in volume of orders in construction of buildings cannot compensate for decline in civil engineering at the end of February 2011.
May 30, 2011
Austrian Industrial and Construction Turnover Up by 14.7%
Opposing production trends in industry and construction in February 2011; turnover +14.7%. Automotive industry and metal industry are dominant factors.
May 30, 2011
Volume in Road Freight Transport Decreased by 1.7% in 2010
According to calculations by Statistics Austria, road freight transport has still not recovered from the crisis. VCÖ, by contrast, counted more trucks on Austrian roads.
May 27, 2011
Purchasing Power Parities 2011 from the Austrian Perspective
US travelling is cheap due to the strong euro. Austrians have high purchasing power advantages of around 50% in the Czech Republic, Slovakia and Hungary.
May 27, 2011
Slight Decline in OeNB’s Profit in 2010
The Austrian national bank's operating profit came to € 291m in the previous year. € 269m will be paid to the central government.
May 26, 2011
Exports on Track for New Record
New highs of Austrian exports are expected in 2011 and 2012. The growth rate was 24.2% in the first two months of the year.
May 26, 2011
Austria’s Economy Is Growing Faster Than Expected
The Austrian economy has grown faster than expected. The OECD raised its growth forecast to 2.9%.
May 25, 2011
Electricity Price Index (ÖSPI) to Increase in June
The electricity price index for June 2011, calculated by the Austrian Energy Agency (Österreichische Energieagentur), indicates that prices of electric energy will rise.
May 25, 2011
Slight Decline in Used Car Registrations
Registrations of used motor vehicles in April 2011: -4.8%; passenger cars -5.7%, lorries -8.8%.
May 20, 2011
Prices for Industrial Goods Continue Upward Trend
Industrial producer prices are still increasing in Austria: +5.4% in March 2011 compared to March 2010.
May 20, 2011
Crisis Not the Cause of Most Bankruptcies
The majority of last year’s insolvencies had company-internal reasons and was not directly related to the economic crisis.
May 19, 2011
Firms Asked to Reduce European Focus in Favour of BRIC States
The Austrian economy has to up its focus on emerging markets, the Economy Minister has warned. 83% of all exports go to customers in Europe.
May 17, 2011
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