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 Prefer Holidays Abroad
Only 20% want to stay in Austria during their summer holidays. Increasing trend towards online booking.
May 17, 2011
Urgent Need for Specialized Workforce
Lack of skilled employees hits Austrian crafts enterprises. Opening of the labor market could help to satisfy the demand.
May 17, 2011
Inflation Rate Increases to 3.3%
The highest inflation rate in Austria since 2008 is mainly due to price increases of oil products and groceries.
May 16, 2011
Leitl: "Reforms, Despite the Positive economic Outlook Should Not Be Forgotten"
Spring forecast by the EU Commission: Clearly improved growth prospects for Austria and the European Union
May 14, 2011
Austria's Economy Grew Strongly Again in the First Quarter of 2011
According to the latest WIFO flash estimate, the domestic GDP grew, in real terms and seasonally adjusted, by 1% in the 1st Q. 2011. Compared with the previous quarter (4th Q. 2010: +0.9%), the expansion rate has picked up slightly.
May 14, 2011
Austria's Manufacturing Industry Warns of a Shortage of Apprentices in the Technological Field
There is a shortage of applicants for the manufacturing industry-related and production-oriented technology areas; the demographic trends will intensify the problem.
May 13, 2011
Nearly all Federal Provinces have Overcome the Economic Slump
Strong demand from abroad will keep industry humming along. According to Bank Austria, Upper Austria and Vorarlberg have the brightest prospects for growth.
May 11, 2011
Resistance to Privatization Plans
The SPÖ criticized the plans of its coalition partner ÖVP to reduce public participation in order to abate debt.
May 10, 2011
Strong Upswing in Austria
Indicators point to a strong and dynamic economic recovery. Surveys of local companies in the manufacturing sector reflect great optimism concerning the course their business is taking.
May 10, 2011
Strong Rise in Foreign Trade Figures
January to February 2011: Austrian imports increased by 26%, exports rose by 24%.
May 9, 2011
Austria's Export Are Heading for Another Record Year
Exports grew by 24% to € 18bn in the first two months of 2011, continuing to be a crucial pillar of the Austrian economy.
May 7, 2011
Significant Rise in Wholesale Prices
Austrian Wholesale price index in April 2011: +9.5% against April 2010. Main Drivers are Cereals, Fuel and Fertilizer.
May 6, 2011
Prosperity to Rise, But Savings Propensity on a Decline
Monetary wealth of Austrians expected to rise 14.4% or from € 7,900 to 62,800 by 2015; savings ratio to decrease from 9.1% to 8.1%. In 2010, Austrians saved € 1,819 on average.
May 6, 2011
Surprising Profit at ASFINAG
With an annual result of € 339m for 2010, the Austrian motorway financing company had much better results than expected.
May 6, 2011
Upswing in Austria’s SMEs
Austrian small and medium enterprises expect a significant improvement in business conditions for 2011. The equity situation however remains problematic.
May 5, 2011
Capital Transfers Still Below Pre-Crisis Level
Austria's financial transactions with foreign countries continue to be influenced by the aftermath of the crisis: investment in foreign securities has increased only slightly (€ 6.4 bn).
May 5, 2011
Leitl and Sorger Demand Privatizations
Economic Chamber’s President Christoph Leitl and Industrialists' Association President Veit Sorger spoke in support of privatization at a press conference.
May 5, 2011
Moser Demands Changes in Debt Policy
Josef Moser, President of the Audit Court warns urgent structural reforms of the policy. There is no all-clear; the situation is "ominous".
May 3, 2011
Sharp Drop in Exports to Japan is Expected
Exports are expected to return to a normal level only by 2012. Renewable energy technologies could be particularly important.
May 3, 2011
Austrian Unemployment Still Declines
Compared to April 2010, the number of unemployed persons decreases by 5.4%. The number of trainings went down by 19.3%.
May 3, 2011
Austrian Industrial and Construction turnover up by 15.2%
Opposing production trends in industry and construction in January 2011; turnover +15.2%. Metal industry and automotive industry are dominant factors.
May 3, 2011
Labor Chamber: Productivity Grew Significantly More Than Salary Increases
Personnel costs per employee of Austrian companies, according to the Labor Chamber (AK) have grown less than half as strong as productivity since 2003.
April 30, 2011
Austria's Deficit in 2011 at 3.9 Percent
Despite the economic recovery, the debt will increase significantly again in 2011. The consolidation will take place from 2013 onwards.
April 29, 2011
Austria´s Economy Performed Better than EU-average During Crisis
The Vienna Institute for International Economic Studies (wiiw) has just published a study, which quantifies trade-related transmission mechanisms of the global drop in investment demand and output to recession in Austria.
April 28, 2011
Lending Behavior of Banks Remains Stable
The credit policy of Austrian banks remained stable for the third year running in the first quarter of 2011 and it is also expected to remain unchanged in the second quarter of 2011.
April 28, 2011
Industrial Business Situation: Optimism with Restrictions
Economic recovery continues in Austria, as well as employment growth. Capacity utilization remains stable
April 28, 2011
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
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