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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
Leitl Vehemently Asks the Government for Structural Reforms
The President of the Austrian Economic Chamber (WK), Christoph Leitl, call on the government for location and future investments.
November 25, 2010
Europe's Public Debt and Unemployment Remain High
Austrian Institute of Economic Research: The revival of the EU states, driven by expansionary economic policies and export growth, is ebbing.
November 25, 2010
AMS: Temporary Employment Will Continue to Rise
The Chairman of the Board of the AMS (Public Employment Service), Johannes Kopf, believes that the international trend of increasing temporary employment will also take root in Austria.
November 24, 2010
Industrial Production: Increase Over Last Year, but Trend is Declining
The September 2010 production index shows a significant increase of 3.6% in Austrian industrial production over the previous year.
November 24, 2010
Lending Rates of Domestic Banks Significantly Lower Than in the Euro Area
The lending interest rates for private households and businesses have risen recently. But despite this, rates are more advantageous than in other euro-countries.
November 23, 2010
WKÖ Promotes Trade With Developing Countries
The Economic Chamber Austria presents its strategies to strengthen Austrian companies in order to take advantage of business opportunities in developing and emerging countries more effectively.
November 23, 2010
Job Dissatisfaction Rises Dramatically
Austrians show themselves increasingly dissatisfied with their work. The current working climate index is at its lowest level in four years.
November 22, 2010
Solid Growth inTrade Between Austria and the Czech Republic
Exports between the two countries rise by around 20%. Cooperation is to be extended also to research.
November 22, 2010
CEE: Catch-Up Process Starts Again
After the growth break caused by the economic crisis, Eastern Europe is back on the upswing. However, the catch-up process has been delayed by years.
November 22, 2010
Economic Espionage: Damages for 880 Million Euro in Austria
Every year, Austrian companies lose 880 million euro to economic and industrial espionage.
November 18, 2010
OECD: Austria's growth until 2012 at 2%
According to the report, the economy is returning back to normal values, but it will have to manage without fiscal stimulus.
November 18, 2010
Study: Agricultural Subsidies Produce No Growth
The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.
November 18, 2010
Junge Industrie Wien: Explosive Generational Balance Study
Junge Industrie Wien calls for "courageous steps". The credo is future investments instead of transfer payments.
November 17, 2010
Private Consumption of Austrians Increases
After the crisis of 2009, in which private consumption stagnated, expenditure on consumption rises massively again. The growth rate is 4.2%,
November 17, 2010
GPA: Private Employees Receive 2.2% Salary Increase.
Bigger salaries in trade, crafts and consulting: the negotiators consider this to be a "reasonable result".
November 17, 2010
Procurement: Economy Welcomes Extension
Economic Chamber President Christoph Leitl welcomes the planned extension of the threshold values regulation by one year as an important growth impulse
November 16, 2010
Study: 41% of Working Time in Austria is Unproductive
According to a study by the consulting firm Czipin Consulting, productivity continued to fall in 2008 and 2009.
November 16, 2010
Consumer Price Inflation up to 2.0% in October 2010
Main drivers for inflation are energy prices. Thus, inflation further accelerates.
November 16, 2010
WKÖ: China Overtakes the U.S. as the Most Important Overseas Austrian Trade Partner
The volume of foreign trade (exports and imports) with China in the second third of the year was 5.6 billion euro compared to 5.1 billion euro with the U.S.
November 16, 2010
Austria´s Economy: Recovery Accelerates
According to the Report of Bank Austria “Austria´s Economy”, GDP increases stronger than expected. The labor market experiences some weaknesses.
November 15, 2010
Mechanical Engineering Returns to High of Growth
The sector experienced a decline of output capacity by 22% in 2009, revenue in the sector dropped 24% to € 14.7bn. In 2010, production will grow by 8%.
November 15, 2010
High Demand for Minimum Benefit
In the first month after the introduction of the minimum benefit already 14,500 applications have been submitted. A significantly lower demand had been expected.
November 15, 2010
OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area"
The Governor of the Austrian National Bank, Ewald Nowotny warns to fiscal discipline and talks about economic challenges and opportunities in Europe.
November 15, 2010
Infrastructure Development: Investing in the Future or Incurring Debt?
While industry competes for sites for the development of infrastructure, legitimate questions are being raised on financial issues.
November 15, 2010
Traffic Expenditures: € 4.3bn less
As a consequence of the new budget, public infrastructure projects are being reduced considerably. Postponed projects and low-cost alternatives will save money.
November 12, 2010
Austria: Strong Growth Again in the Third Quarter 2010
According to the latest flash estimate of the Austrian Institute of Economic Research (WIFO), Austria's economy again expanded in the third quarter of 2010 by 0.9% over the previous quarter (after +1.2% in the second quarter).
November 12, 2010
Carinthia: Industry Faces Stagnation
Despite recent positive economic data, Carinthian industrial firms are less confident. For the coming year, a stagnation in production and in profits is expected.
November 11, 2010
Standard & Poor’s: Austria's Credit Rating at Risk
The reasons for such gloomy prospects are not problems with the banks or domestic companies, but rather the demographic situation threaten Austria's credit rating.
November 11, 2010
Erste Group: CEE Companies More Efficient than Western Counterparts
CEE companies are more efficient, more profitable and less indebted as Western companies. The German corporate sector is the only sector to compete with CEE companies.
November 10, 2010
Leitl: Austrians Go into Retirement Too Early
Those who go into early retirement in Austria are rewarded. The government should create more incentives to retire later on in life.
November 10, 2010
Construction Costs: Continuous Upward Trend
Just as previously, construction prices continue rising in Austria. There is no end in sight for the upwards trend.
November 10, 2010
Strong Growth of Austria's Export Figures
Growth in exports was 15.3% in the first eight months of 2010, mainly to emerging markets.
November 10, 2010
OeKB: Further Expansion in CEE Region
According to the OeKB (Oesterreichische Kontrollbank), the business climate index in Central and Eastern Europe (CEE) showed an improvement in recent months.
November 9, 2010
Fast Growth in Temporary Employment
The demand for temporary workers has increased strongly on the Austrian labor market strong, reaching almost the level before the economic crisis.
November 9, 2010
Austerity Package: Resistance from the Federal Provinces
While cries for savings are getting louder in the provinces, declarations of both consensus and objections come from the provincial capital cities
November 8, 2010
Raiffeisen CEO Stepic: CEE Continues Being Europe’s Growth Driver
The boss of Raiffeisen Bank International Bank (RBI), Herbert Stepic, sees the CEE region continuing as long-term growth driver for Europe.
November 8, 2010
Union: Call After 40 weeks of Work per Year
The Union of Salaried Employees (GPA) presents a new working model.
November 5, 2010
Industry: Recovery Dynamics are Leveling Off
IV’s (Federation of Austrian Industries) economic barometer shows minor increases; there is a gradual return to normal capacity. Only a small momentum is to be expected in employment and earnings growth.
November 4, 2010
Working Time Flexibility Prevented Mass Unemployment
During the crisis, many German and Austrian companies flexibilized the working hours of their employees. These measures helped to ease the labor market situation.
November 4, 2010
IHS Boss Felderer Pleads for Railway Tunnel
The debate about the controversial Koralm tunnel is being enriched. IHS (Institute for Advanced Studies) boss Felderer argues strongly for the infrastructure measure.
November 3, 2010
Arbeiterkammer: Labor Force in Austria Remains Highly Profitable
The representatives of the interests of workers and employees raise criticism on the extents of wage and salary increases with a self-created study. The argument of the companies about the need to build up reserves is incorrect.
November 2, 2010
Energy Prices Rise Steeply
An increase of 6.7% was recorded for energy prices in the yearly comparison. The relevance of alternative energy sources will increase significantly in future, as energy price increases are expected to continue in the long term.
November 2, 2010
Too Few New Companies?
Austria comes out of the international comparison poorly in terms of start-up companies. The major problem is the lack of venture capital, according to the studies.
November 2, 2010
Unemployment: Sharp Decline in October
Compared with the previous year, unemployment was reduced by 8%. The decline is attributed primarily to an increase in the demand for temporary workers.
November 2, 2010
Industry: Good Prospects for 2011
The general optimism in the industry leads to the expansion of production and more personnel recruiting.
October 28, 2010
Lending Policy of Banks is Stabilized
Results for Austria of the October 2010 credit business survey in the euro area
October 28, 2010
Flexible Working Hours: Top Position of Austria in Europe
Both employers and workers benefit from what the crisis achieved, according to the EU Commission. However, additional flexibility does not bring in itself greater equality.
October 27, 2010
New Budget: Details and Reactions
The entire tax package will bring additional revenues for around 1.2 billion euro. There are further saving measures for 1.6 billion euro. Reactions from the economic actors are ambivalent.
October 25, 2010
New Budget, New Taxes
The budget includes a new austerity package, which consists essentially of taxes on mineral oil, tobacco and banks.
October 25, 2010
Increase in Mineral Oil Tax likely
Economy Minister Mitterlehner speaks of a possible moderate increase.
October 21, 2010
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