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
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
Expenditure for Environmental Protection Doubled Since 1995
Environmental protection expenditure in Austria doubled since 1995; more than half is used for waste management and water protection.
March 30, 2011
Search for SME Owners in Austria
Almost one-fifth of domestic SMEs will be looking for new owners in the next decade. 57,000 businesses and 500,000 jobs will be affected.
March 29, 2011
Slight Rise in Insolvencies
Austria's Credit Protection Association calculated an increase of total insolvencies by 0.7% in its preliminary statistics for the first quarter of 2011.
March 29, 2011
6.1 Million Cars in Austria
Stock 2010: over 6 million motor vehicles for the first time; Austrians own 4.4 million passenger cars.
March 29, 2011
Economic Growth at 3.5% in the First Months of 2011
The Austrian economy is expanding relatively strongly, driven by the robust external demand.
March 26, 2011 · Updated: March 27, 2011; 00:00
Manufacturing Industry on Pensions: Structural Reform has to be Adressed Urgently
Manufacturing industry representatives were surprised at ÖGB statements. Instead of early retirements, more funds should be freed for future investments.
March 26, 2011
Austrian Industrial Production Still Growing
Statistics Austria: Rise in Production index in January 2011: 8.4% over January 2010
March 26, 2011
“GemeindeMilliarde” Initiative of Bank Austria Extended
In view of strong demand from municipalities Bank Austria expands GemeindeMilliarde initiative by a further € 500 m
March 26, 2011
The Black Sea Region is Gaining in Significance for the Austrian Economy
Austria's sound foreign economic relations with the Black Sea region could be strengthened still further. The export structure of Austria is consistent to a large extent with the import demand of Ukraine and Turkey.
March 25, 2011 · Updated: March 25, 2011; 03:52
Economy: "South Axis” Demands Recovery Program
Styria and Carinthia are at a disadvantage concerning infrastructure compared with other provinces, was the criticism of the Economic Chambers of the "strong south".
March 25, 2011
Upward Trend for Austria's Machinery and Metal Products Industry
The Austrian machinery and metal products industry has recovered in 2010 from a very difficult previous year. Orders increased to € 29.6bn (+18.3%), production to € 32.7bn (+6.5%).
March 25, 2011 · Updated: March 25, 2011; 03:12
Austrian Unemployment Shrinks Further
Increase in jobs and decrease in unemployment in the fourth quarter of 2010; job market relief in 2010 compared to 2009
March 25, 2011
Austria's Export Industry Grows Strongly
Driven by external demand, the Austrian economy shows a growth of 2.7% compared with the previous year.
March 23, 2011
Austrian Producer Prices Still on the Rise
Strong rise of industrial producer prices in January 2011: +5.0% compared to January 2010.
March 22, 2011
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