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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
Austria's Labor Market Opens
As of May 1, 2011 the German and Austrian labor markets open for the new EU citizens. Romania and Bulgaria will follow suit in 2013.
December 30, 2010
Billion Worth Qatar Holding Explores Investment Opportunities
The Austrian economy expects closer relations and potential export opportunities as the result of the state visit of the Emir of Qatar.
December 30, 2010
WIFO Director: "Crisis was not Taken Advantage of to Introduce Reforms"
In an interview with the newspaper "Kurier", the head of the WIFO criticizes the lack of commitment to reforms. His perspectives for Austria are nevertheless optimistic.
December 30, 2010
WIFO: Lack of Competition in Austria
According to WIFO, lack of competition is causing a growth bottleneck in Austria and requires legal action by the government and the EU.
December 29, 2010
Leitl Demands Reforms
The President of the Austrian Economic Chamber calls for more Government work in administration, health and education.
December 29, 2010
Good Prospects for Austrian Exports
The outlook for 2010 is favorable after the sharp decline of Austrian goods exports in the crisis year 2009 (-20.2%), .
December 29, 2010
Chamber of Labor Calls for a More Equitable Distribution
Corporate profits on one hand and reduced working hours, dismissals and wage cuts on the other, are not compatible for the Chamber of Labor.
December 28, 2010
Raiffeisen Foresees a Weak Decade for Europe
RLB Niederösterreich-Wien expects hardly any economic growth, particularly in the euro countries. Austria is however relatively well positioned.
December 28, 2010
Further Rise in Energy Prices for Households
Austrian energy prices in November 2010 were higher by 5.8% compared to the previous year. Only gas became cheaper.
December 27, 2010
Generali Money Study: What Austrians Will Spend their Money on in 2011
More money will be spent on vacations, housing and sports. Propensity to consume is higher in men.
December 27, 2010
CO2 Emissions in 2009 Decreased by 4.75m Tons
Energy-related CO2 emissions decreased in 2009 in Austria by 4.75m tons or 7.4% to 59m tons, according to WIFO estimates
December 27, 2010
Analysts Predict Good Year for ATX
According to analysts, the Vienna Stock Exchange will experience a favourable performance in 2011. However, 2011 won´t surpass 2010.
December 27, 2010
Income Report: Workers' Wages Fell in Real Terms
In its income report, the Audit Court presents the evolution of the income of the Austrians. Increasing differences can be identified.
December 24, 2010
Production Increased over 5.2% in October
The production index for October 2010 of Statistik Austria shows an increase of over 5.2% compared with October 2009.
December 23, 2010
AAA Rating Confirmed for Austria
The rating agency Standard & Poor’s; leaves Austria’s credit status unchanged.
December 22, 2010
Austria's Export Economy is Booming
Given the high growth rates in the past year, the Austrian export economy shows itself also optimistic for 2011.
December 22, 2010
Leitl: Municipal Financial Problems Act as Growth Brake
The President of the Austrian Federal Economic Chamber (WKÖ), Christoph Leitl, demands greater spending efficiency in the public sector in order to improve municipal finances.
December 22, 2010
Austrian Official Debt Level Rises
Due to the EU-wide commitment to a more transparent presentation of liabilities, the official debt ratio of Austria will continue to increase.
December 21, 2010
The KSV Publishes Austrian 2010 Insolvency Statistics
The Kreditschutzverband (KSV, Credit Protection Association) has established an 8% decrease in corporate insolvencies.
December 21, 2010
Above-Average Labor Market Data for Austria
Compared with Europe, there are relatively a lot of people of working age employed in Austria. The proportion of unemployed is also low.
December 21, 2010
Further Increases in Prices of Industrial Goods
Increase in industrial producer prices in October 2010 is, according to Statistik Austria, +4.0% compared with the same month last year.
December 20, 2010
WIFO: Economic boom persists, but also risks
The export-driven boom of the Austrian economy continues. Growth will however slow down in the first half of 2011.
December 20, 2010
Austria's Tax Revenues are Higher than Expected
As the economy developed relatively well this year relatively, tax revenues increased. The deficit for 2010 might therefore turn out to be lower than planned.
December 17, 2010
Inflation falls to 1.9% in November
According to calculations by Statistik Austria, the inflation rate for November 2010 was 1.9% after 2.1% in October. Price drivers are energy and housing.
December 16, 2010
Bank Austria´s Economic Analysis: 2% Growth in 2011
The analysis of the Austrian economy forecasts a strong recovery. Improvements in the labour market will continue, but the positive trend weakens.
December 16, 2010
More Employees in Austria, Purchasing Power and Taxes Remain High.
Austria records an employment increase of 1.2%. Purchasing power and taxes are above the international average.
December 15, 2010
Allianz: Austria's Economic Production has Reached Pre-crisis Level in 2011
Strong exports and government stimulus programs enabled growth. Despite public savings constraint, Allianz expects further upward trends.
December 15, 2010
Austrian Economic Chamber is Against Euro-Bonds
Chamber President Leitl calls for an in-depth cooperation in economic policy instead of euro-bonds.
December 15, 2010
OeNB: Recovery of the Financial System in a Persistently Uncertain Environment
The OeNB considers that domestic banks benefit from the positive development in the CEE region. However, uncertainties stay on as before.
December 15, 2010
Economic Chamber: Cautious Optimism in Austrian Industry
Industrial production is at the level of 2006; exports are still below pre-crisis levels.
December 15, 2010
Austrians spend about € 2.5bn on gifts
Spending propensity shows a rising trend. Cash is still the most widely means of payment.
December 14, 2010
Risk of Poverty for 12% of Austrians
By 2008, 12.4% of the Austrian populatin is threatened by poverty. The average of the EU countries amounts to 17%.
December 14, 2010
Changes in Trend for the Austrian Labor Market
Imminent job cuts because of the uncertain business development.
December 13, 2010
Vienna Stock Exchange: Tax on Securities Gains Damages Austrian Economy
Massive disadvantages for Austrian companies because of financing made more difficult are feared by the members of the of the Vienna Stock Exchange board, Michael Buhl and Heinrich Schaller.
December 13, 2010
Economic Chamber: Positive Outlook for 2011
The Business Barometer presents both opportunities and risks for the Austrian economy. Shortage of skills and low investment continue being weak points.
December 13, 2010
Is Austria a Risk Country?
Due to its engagement in Eastern Europe, Austria is partially considered as a potential risk country. Lack of understanding for this assessment is shown by Austria.
December 10, 2010
Economic Chamber: No More Credit Crunch for Austria’s Businesses
A study by the Austrian Economic Chamber shows the high level of satisfaction of local businesses with their banks: the credit crunch has disappeared.
December 10, 2010
WIFO: Austrian Manufacturing Industry in Good Position
The economic recovery driven by exports and the manufacturing industry continued in the fall: the GDP grew 2.4% over the previous year in the third quarter.
December 10, 2010
Mitterlehner: New Red-White-Red Card has Advantages for Economy and Location
The "red-white-red-card" is to meet the needs of the Austrian economy for skilled foreign workers.
December 10, 2010
Austrian Resistance Against Euro Bonds
Massive criticism comes from Germany, the Netherlands and Austria against the proposal to implement euro bonds to stabilize the currency in the EU.
December 8, 2010
Austrian National Bank: Credit Shortage Has Been Overcome
The analysis of the Oesterreichische Nationalbank (OeNB, Austrian National Bank) on loan growth shows slowly recovering credit dynamics in Austria.
December 8, 2010
Strong Growth in Foreign Trade
In the first nine months, Austria imported goods for € 82.45bn (+14.8%). Exports increased by 5.8% to € 79.69bn.
December 8, 2010
Increase of Austrians’ Purchasing Power
Despite higher taxes and lower benefits, the purchasing power of the Austrian people will grow in 2011 by an estimated 2.6%.
December 7, 2010
Sales Gowth in the Services Sector
In the third quarter, trade and services reached a revenue growth of 7.2% over the previous quarter of this year and of 5.2% over the same quarter of the previous year.
December 7, 2010
Nowotny Pleads for Euro-Bonds
The governor of the Austrian National Bank, Ewald Nowotny, is for the introduction of euro-bonds. Germany’s resistance is pre-programmed.
December 6, 2010
Economic Chamber in Tokyo: Biotechnology as an Opportunity
The President of the Vienna Economic Chamber, Brigitte Jank, sees above all great opportunities for Austria in Japanese biotechnology and pharmaceutical industries.
December 6, 2010
Trade Between Russia and Austria is Booming
The volume of trade between Austria and Russia has increased by 30%. Innovation and modernization are core issues for both countries.
December 6, 2010
Leitl Vehemently Defends Euro Protection Shield
The President of the WKÖ (Austrian Federal Economic Chamber), Christoph Leitl, gives a clear answer to the euro critics: without the euro, Austria would have become a problematic case in 2009.
December 6, 2010
Triple-A Rating: Treichl vs. Nowotny
The Chairman of the Erste Group is not convinced anymore by Austria's financial policy; the Governor of the National Bank however, still stands on "AAA".
December 3, 2010
Stable Recovery of Austrian Economy
The Oesterreichische Nationalbank (OeNB, Austrial National Bank) is assuming a growth of the economy of 1.9% for 2010. Further acceleration is possible for subsequent years.
December 3, 2010
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