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Economic Growth
Lenzing to Expand Further
Lenzing´s CEO explains that the frame conditions for Lenzing are highly satisfying at the moment. However, 2012 will not be another record year.
August 7, 2012
Croatia: Crisis Sharpens
The Croatian recession seems to continue. Consumption falls further, unemployment continues to rise.
August 7, 2012
Austrians Tend to Save Less
Erste Bank 2nd Quarter Savings and Credit Forecast: Half of Austrians expect an economic upswing within the next two years. The average savings amount drops further to € 4,617.
August 7, 2012
Slovakia: Rating Confirmed by S&P
The U.S. rating agency Standard & Poor´s reiterates Slovakia´s A/A-1 rating. The outlook is is still „stable“. Slovakia´s labor market data are less promising, however.
August 6, 2012
Polish Industrial Sector Shrinks
Last month, the Polish purchase manager index could recover. Nevertheless, there is no tendency of growth yet.
August 3, 2012
Moody´s Downgrades Slovenia
Today, the U.S. rating agency has downgraded the Western Balkan country by three notches to „Baa2“ from „A2“.
August 3, 2012
Czech Republic: Erste Group´s CEO Advises Against Introducing the Euro
According to Andreas Treichl, the Czech Republic should not enter the Eurozone now.
August 2, 2012
Hungary: Slow Progress in Talks with IMF
The negotiations with IMF about a € 15bn loan will be resumed in September. According to economists, a final agreement is highly uncertain.
August 1, 2012
Industrial Activity in Austria Contracts
For the first time this year, the production output declines dramatically. Moreover, a drop in orders – especially foreign orders – leads to a persistent decline in employment figures
July 31, 2012
IHS: Austria Grows Faster Than Eurozone
The Austrian Institute of Advanced Studies expects an average economic growth of 1.7% until 2017.
July 26, 2012
Vienna Stock Exchange: „Too Early for Investments“
VSE´s CEO Birgit Kuras explains why listings at Vienna Stock Exchange are declining. In the medium term, the conditions for the equity market would be favorable, however.
July 26, 2012
Hungary: Real Income Shrinks
The Hungarian economy faces a substantial recession this year. Despite growing gross incomes, real income decreased by 4% last year.
July 25, 2012
Poland as CESEE´s Locomotive
This year, the CESEE region should record a growth rate of 1.7%. However, the situation is highly different.
July 25, 2012
EU: "Growth without New Debt"
Austrian State Secretary Wolfgang Waldner at the General Affairs Council in Brussels: “Further intensive work on Europe in the next six months under Cypriot EU Presidency”
July 25, 2012
Rising Serbian Budget Deficit Causes Worries
This year, Serbia has to borrow € 4.2bn. A budget deficit of € 300m is forecasted in 2012.
July 24, 2012
IMF: Doubt on Hungary´s Economic Data
For the IMF, the budgetary forecasts are too optimistic. The negotiations on the € 15bn loan continue.
July 23, 2012
"Wage Cuts in Southern Europe Inevitable"
Christian Keuschnigg, director of the Austrian Institute of Advanced Studies thinks that a fiscal union will not work. The recession in Southern Europe will go on.
July 21, 2012
Slight Growth in Ukrainian Financial Industry, Uncertainty Remains
According to Austrian RCB (Raiffeisen Centrobank), the lending activity remains subdued amid looming economic uncertainty. Deposit growth resumed in June both in corporate and retail segments.
July 19, 2012
Ukraine Shows Stable Economic Performance
After a major depression in 2009, the Ukrainian economy grows steadily. However, in June, industrial output fell slightly, Austrian RCB analyzes.
July 18, 2012
Europe Hinders Austrian Economy
Due to the European economic weakness, Austria almost stagnates. Slight corrections in austerity programmes, weaker euro and lower oil prices indicate an economic stabilisation in late 2012 though.
July 17, 2012
Bulgaria Aims to Join Eurozone
Bulgaria´s Finance Minister Simeon Djankov underlines the importance of the banking supervision and the Fiscal Pact, but wants to keep the fiscal competence.
July 16, 2012
Poland Not to Enter the Eurozone Soon
For the time being, Poland will keep the Zloty. After the Eurozone has managed the current crisis, an accession is conceivable, Foreign Minister Radoslaw Sikorski says.
July 14, 2012
Hungary: IMF Talks Begin Next Week
The financially stricken country seeks a second bailout by IMF. Hungary negotiates over a loan sized € 15bn.
July 14, 2012
EU – An Escape for Serbia?
The economic prospects for Serbia are gloomy. The priority of the new Serbian government is to join the European Union.
July 14, 2012
Income Grows Slower Than GDP
For years, the increase in wages and salaries is lower than the rise in company profits.
July 14, 2012
Austrian GDP per Capital € 35,710 in 2011
Austrian economy 2011: growth of +2.7% despite challenging global environment. The manufacturing industry was the driving factor of the growth last year.
July 13, 2012
Slovenia Remains in Recession
According to estimations, the recession in Slovenia will sharpen this year. A turnaround is expected in 2013. The banking sector is an enormous burden for the Souteastern European country.
July 12, 2012
Stable Outlook for Austrian Industrial Sector
Austrian industrial enterprises expect production, order intake and employment tob e stable in the second half of 2012. The uncertainty remains.
July 11, 2012
„No Austerity Measures in the Czech Republic“
The Vienna Institute for International Studies underlines that the Czech Republic´s financial situation is very stable at the moment. Austerity policies would not be required.
July 11, 2012
Austrian Industry Urges Government to Continue Austerity Policies
The Austrian government has to perform its job in order to retain competitiveness and economic growth in future. Finance Minister Fekter is highly satisfied with the government´s economic report.
July 10, 2012
Economic Report: „Reducing Dependence on Europe“
Today, the Austrian government published its "Economic Report 2012".
July 9, 2012
Hungary Plans to Boost Economy
With a € 1.0bn programme, the Hungarian government aims to create more jobs and stimulate consumption.
July 9, 2012
OeNB Calls Austrian Banks to Improve Equity Base
Presentation of the 23rd Financial Stability Report of OeNB (Austrian Central Bank): Austrian Financial System Influenced by Tensions in the International Financial Markets.
July 9, 2012
Southeastern Europe Faces Recession
According to the Vienna Institute for International Economic Studies (WIIW), Southeastern Europe is the weak point among European emerging countries.
July 7, 2012
Growth in CESEE Region Flattens Further
The Vienna Institute for International Economic Studies (WIIW) lowers ist forecast for the CESEE region.
July 6, 2012
CEE Defies Turbulences in the Eurozone
GDP in CEE expected to grow 2.6 per cent in 2012 – eurozone expected to shrink by 0.3 per cent. Growth forecast for Austria’s GDP at 0.7 per cent in 2012
July 5, 2012
CESEE: Poland and Turkey are Hot Spots
Erste Economic Sentiment Indicator CEE: stock market expectations weaker, but still ahead of Eurozone. Turkey and Poland remain the preferred investment regions.
July 4, 2012
IMF: Austria Has Favorable Economic Fundamentals
IMF in Washington DC analyzes Austrian macroeconomic outlook and is satisfied with the consolidation path.
July 4, 2012
Hungary: Financial Transaction Tax to be Extended
The Hungarian government plans a growth stimulus program, which should be funded with the extension of the current financial transaction tax.
June 30, 2012
„Austria Is Well Situated, but Needs Reforms Urgently“
Austria´s economic perspectives are slightly positive. The Austrian Chamber of Commerce reaffirmed its call for regional economic reforms.
June 30, 2012
Euro-Crisis Continues
According to RCB, the factional dispute between Germany and France decisive for the eurozone. An easing of the situation is not expected.
June 29, 2012
Real Estate Crisis in the Balkans Has Deepened
Due to the economic crisis in Southeastern Europe, real estate prices are still falling. Since 2008, prices fell by up to 50%.
June 28, 2012
EU Discusses Growth and Employment Pact
Austria´s State Secretary Waldner at the General Affairs Council in Luxembourg: „Putting and end to the negative spiral“.
June 27, 2012
„Austria Is Threatened by a National Bankruptcy“
The Austrian economist Eva Pichler warns of the ESM and appeals on the Austrian Parliament not to ratify the „recue package“.
June 20, 2012
CESEE Banks: Small Exposure in Southern Europe
The riskiness of assets held by CESEE banks is manageable, the U.S. rating agency Fitch says. The CESEE region has closer links to Western Europe than to Southern Europe.
June 20, 2012
Fitch: Austria´s AAA Not Endangered
According to the U.S. rating agency, Austria´s creditworthiness remains at a high level. Nevertheless, reforms would be needed.
June 19, 2012
Tricky Climate for Austrian Economy
The economic activity continues to lose pace – a weaker economic growth is expected for the remainder of the year. Exports and stable domestic demand support an unchanged GDP forecast of 0.8 per cent for 2012.
June 19, 2012
Gloomy Growth Prospects for Austria
Bank Austria cuts its growth prospects for Austria. Instead of a GDP growth of 2.0% in 2013, the analysts now expect economic growth to reach 1.5%.
June 16, 2012
Austria Stresses Balance Between Growth and Austerity
At the negotiations on the EU financial plan 2014 – 2020 in Denmark, Austria proposes to establish a growth fund accessible to SMEs.
June 13, 2012
Austerity: „There is No Alternative“
The former director of the Austrian Institute of Advanced Studies appreciates the help for Spanish banks and thinks that a Greek exit is rather unlikely.
June 12, 2012
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