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

Slight fall in inflation in May 2010 to 1.9%

According to calculations by Statistics Austria, the inflation rate for May 2010 was 1.9%, slightly lower than in previous months (both 2.0% in April and March).

June 16, 2010

Hungary - Orbán's crusade has what it takes for an export success

Viktor Orbán could have used his appearance at the IIF conference in Vienna to refurbish the image of his bankrupt government.

June 15, 2010

Survey - Restrictive lending in Austria

In a survey of the Credit Protection Association (KSV 1870) entrepreneurs declared, that borrowing is currently slow, and the allocation restrictive.

June 14, 2010

OeNB revises growth forecast for 2011 and 2012

Austria's economy will grow 1.6 to 2.1 percent from this year to 2012 to 2.1 percent, as estimated by the Austrian National Bank.

June 14, 2010

Austria has 39,077 dollar-millionaires

The number of dollar millionaires did not only rise in Austria but also increased substantially worldwide.

June 11, 2010

Pröll - Austria will introduce a bank tax in a solo attempt.

"The bank tax will be discussed together with the banks and it will be implemented, I stand for that," announced Finance Minister Pröll.

June 11, 2010

Austria's economy further weakens

The gross domestic product of Austria fell in the first three months of this year by 0.1 percent.

June 10, 2010

IIF Meeting - Viennese outcry against Basel

At its meeting in Vienna on Thursday, the World Bank Association IIF (Institute of International Finance) presented a study on the impact of stricter banking regulations.

June 10, 2010

Service sector achieved increase of turnover by 1.2% in the first quarter of 2010

According to Statistics Austria, based on results for the first quarter of 2010, turnover of Austrian services enterprises at nominal values rose by 1.2% compared to the first quarter of the year 2009.

June 9, 2010

Slight increase in trade deficit

In the first quarter of 2010, according to “Statistik Austria”, goods worth of €24.89b, were imported which is 3.8 percent more than last year.

June 8, 2010

Manpower - Employment Outlook for third quarter in 2010

As reported 13% of domestic recruiters intend to higher workers. Only 5% have to reduce staff. 88% can cope with current employee numbers while 2% still fluctuate.

June 8, 2010

Vassilakou - 50,000 new green jobs in Vienna possible

"50,000 new green jobs are possible in Vienna," says the club chairwoman of the Greens Vienna, Maria Vassilakou, in reference to a study by Greenpeace presented today in Berlin, that the world could produce 8.5 million jobs in the renewable energy.

June 7, 2010

Austrian Export Day - Summit of the Austrian export industry

In these economically challenging times for companies, greater efforts are needed to internationally to take off.

June 7, 2010

Wholesale prices in May 2010 - plus 4.9% compared to the previous year

The index of wholesale prices, (GHPI 2005), for the month of May 2010, registers 110.6 (provisional figure), an increase of 0.4% over that of the previous month according to calculations of Statistics Austria.

June 7, 2010

WIFO - Economy of the industrialized states in 2009 is suffering greatly from export decline

The economic situation in the Austrian Provinces in 2009 was hit by the economic crisis especially the manufacturing sectors.

June 2, 2010

Tumpel - draw lessons from the crisis

"The financial markets and their actors have brought the worst economic crisis since the Second World War "says Austrian Chamber of Labour President Herbert Tumpel...

June 2, 2010

Tumpel pleased with labour market revitalization

"The recovery in the labour market is a welcomed development. This shows that the economic stimuli programmes and actions of the Minister of Social Affairs are important and correct, "says AK President Herbert Tumpel.

June 1, 2010

Transport volumes of rail transports decreased significantly by 18.7% in 2009

The economic crisis affected transportations on the Austrian railway network as well.

June 1, 2010

Provisional number of new passenger car registrations in May 2010: -1.9%

According to provisional results, a total of 29167 new passenger cars were registered in May 2010, representing a decrease by 1.9% compared to May 2009.

June 1, 2010

Annual Economics Conference of the OENB discusses “Central Banking after the Crisis”

Each spring, the Economics Conference of the Oesterreichische Nationalbank (OeNB) provides a forum for policymakers, academics and the interested public to discuss topical issues in economic policy.

May 31, 2010

Eurostat confirmed steady deterioration of Austria to the electricity and gas prices

The European Statistical Office (Eurostat) recently released the latest budget for electricity and gas price.

May 31, 2010

The transport volume in road freight transport decreased in 2009 by almost 9%

According to calculations by Statistics Austria 336.6 million tons of goods were transported by road vehicles for the transport of goods registered in Austria on 26.0 million laden journeys.

May 28, 2010

Women’s Report 2010 - Women’s earnings still lower than men’s

Women earn 25.5% less than men in Austria. This is the result of an analysis carried out by Statistics Austria on the situation of women in Austria for the "Women’s Report 2010".

May 28, 2010

Petrol price boards

Last summer’s petrol price regulation came into force, whereby the oil companies can raise prices only once a day. This should be extended in an improved form.

May 27, 2010

OeNB Raised its Operating Profit to EUR 318 Million in 2009

In 2009, the Oesterreichische Nationalbank (OeNB) achieved a somewhat higher operating profit than in 2008.

May 27, 2010

Austria's energy - unilateral emission reduction not purposeful

“The European Commission’s statement on a planned unilateral act on emission reduction is rejected by the Austrian energy sector, "said Secretary General Schmidt.

May 26, 2010

Leitl - No to Bank tax charged - European financial transaction as better solution

"The economy needs a permanently stable financial system. But not at the expense of savers and Investors"

May 26, 2010

Jank - Vienna also requires No. 1 for business friendliness

Chamber of Commerce Vienna President Brigitte Jank is delighted about Vienna’s top spot in the current Mercer survey. For international managers, Vienna continues to claim the title as the city with the highest quality of life.

May 26, 2010

Mitterlehner referring to OECD forecast - Export strength is key to real growth

OECD provides good evidence from Austria - to promote exports even further to play off long-term growth projection.

May 26, 2010

Austria - Economic Outlook Country Summary

The recovery is expected to gather momentum in 2010 and 2011 as foreign demand firms and policies remain broadly supportive.

May 26, 2010

ÖGPI gas price index rises in June

The Austrian gas price index - ÖGPI (C) - recorded a rise for June from the previous month.

May 25, 2010

Production Index in March 2010: -2.8% compared to March 2009

The seasonally adjusted production index for the Production Area (NACE 2008 B - F) recorded on the basis of 2005, according to calculations by Statistics Austria in March 2010, a 2.1% decrease compared to February 2010.

May 25, 2010

Austria’s fuel prices below EU-average

The Federal Ministry for Economic Affairs and Youth published the fuel price monitor of the European Commission...

May 21, 2010

Mitterlehner - IMD-Ranking as a confirmation of Austria’s growth

Minister of Commerce Reinhold Mitterlehner welcomes the better position of Austria in IMD's ranking of Competitiveness.

May 21, 2010

ICCA publishes country and city rankings 2009

U.S.A. and Vienna still most popular association meeting destinations.

May 20, 2010

Solo attempt as an infringement of regulation

It sounds uneventful, also hardly known by relevant experts however contains explosive substance in the context of the debated transaction tax.

May 20, 2010

Vienna fuel-price summit on 27 May

According to the Austrian Times, there will be a fuel-price summit at the economy ministry on 27 May, it was announced today .

May 19, 2010

ÖAMTC - oil price are at September 2009 rates but fuel prices are 17 cents higher

Oil prices are decreasing in price however fuel prices are rapidly increasing. Crude oil prices are at levels of September 2009. At the time average prices for diesel were at €0.953 while “Super” was sold at €1.051.

May 19, 2010

National Council pro "Euro security shield"

Social Democrats SPÖ, People Party ÖVP and Green Party members Van der Bellen and Moser vote pro coalition while the freedom party rejects the referendum.

May 19, 2010

Less mergers and acquisitions (M&A) in Austria

247 mergers and acquisitions in 2009, value of €11b, two-thirds were cross-border.

May 18, 2010

Inflation at 2 per cent in April

Austria’s inflation rate remains constant at 2 per cent in April compared to March. Without driving price developments of petroleum products (+23 per cent), inflation rate would register 1,1 per cent according to “Statistik Austria”.

May 18, 2010

Transaction tax is favourable to bank tax according to WIFO

According to WIFO (Institute of economic research Austria) a financial transaction tax (TT) is favourable to a bank tax (BT) on multiple grounds.

May 17, 2010