Economic Growth

Banks have CEE-Subsidiaries „Under Control“

RBI´s CEO Herbert Stepic criticizes the skepticism against banking in Central and Eastern Europe. The economist Aiginger sees more advantages than risks for Austrian banks.

March 21, 2012

Austrian Economy Recovers Slowly

The Austrian Central Bank (OeNB) sees signs of a recovery. A recession is not expected.

March 20, 2012

Modest Economic Spring With Upward Potential

Bank Austria Business Indicator for February confirms that the economic turnaround has already begun. The outlook is positive.

March 19, 2012

Corruption: Costs of € 27bn for Austrian Economy

Experts say that corruption increases in Austria. In 2012, adverse effects of € 27bn are expected.

March 16, 2012

WIFO Forecasts Economic Stabilization

The Austrian Institute of Economic Research (WIFO) expects a slight improvement in the Austrian economic development. Upward indicators become more significant.

March 9, 2012

Bank Taxes: Nowotny Supports Government

OeNB´s governor Ewald Nowotny defends the coalition plans to raise bank taxes by 25%.

March 7, 2012

Fiscal Treaty: Austrian Economy Satisfied, Opposition Criticizes

After the signing of the EU fiscal treaty at the EU Summit today, reactions in Austria are very different. The largest opposition party FPÖ calls for a popular vote.

March 2, 2012

New Criticism on Austerity Package

For the chief economist at RZB, Peter Brezinschek, the austerity package is not ambitious enough. The President of the Austrian Chamber of Commerce, Christoph Leitl, criticizes the introduction of new taxes.

February 28, 2012

Spring Boost for Austrian Industry?

Bank Austria's Purchasing Managers' Index in February confirms trend reversal. A strong production growth thanks to solid gains in foreign orders is observed.

February 28, 2012

Economic Growth Forecast: 0.7% in 2012

The EU-Commission sees an economic growth of 0.7% for Austria in 2012. Austria is in the middle-field among the EU member states.

February 23, 2012

Austrian Economy Shrank in Last Quarter of 2011

Due to lower exports, the Austrian economic growth showed a decrease in the last quarter of 2011. For 2012, the economy will stagnate or increase very slowly.

February 15, 2012

„Financial Transaction Tax Could Cause Recession“

According to the CEO of Vienna Stock Exchange, Michael Buhl, a financial transaction tax would cost productivity at enterprises.

February 14, 2012

Turnaround for Austrian Economy?

Bank Austria´s business indicator states that the Austrian economy could return to growth. For the first quarter, a small growth rate is expected.

February 14, 2012

Doubt and Criticism on Austerity Package

For the director of IHS, the austerity measures do not contain real reforms. The implementation could become difficult. Administration reforms and health system reforms are too low, observers say.

February 13, 2012

Problems on European Level as Burden for Austria

Over the last months, the European economy lost its impetus, which is a major burden for the Austrian economy.

February 9, 2012

Euro-Crisis: Austrian Managers are Optimistic

In spite of the current euro-crisis, most Austrian managers believe that the currency will remain. Moreover, a deepening of the cooperation between EU-member states is expected.

February 6, 2012

No Further Rise in Insolvencies Expected

The bad debt insurers Euler Hermes and Prisma expect business insolvencies to stagnate in 2012.

February 2, 2012

Turnaround for Austrian Industry?

According to Bank Austria, a rise in demand leads to a marked gain in new orders and triggers growth in backlogs of work. In 2012, the Austrian economy is predicted to start to expand again.

February 1, 2012

Austrian Economy to Stagnate Until Summer

The Federation of Austrian Industries (IV) does not see signs for another recession. In summer, industrialists are optimistic that economic growth accelerates.

January 31, 2012

Austerity: Leitl and Sorger Call for More Effort

The Presidents of the Federation of Austrian Industries (IV) and the Chamber of Commerce (WKÖ) aim for re-gaining the “AAA” for Austria. The government should cut expenses instead of rising taxes.

January 27, 2012

Austrian Economy: Slowdown, But No Recession

The Federation of Austrian Industries (IV) says that Austria will not face a recession in 2012. Nevertheless, the economic slowdown is significant.

January 26, 2012

Erste Group: “Debt Crisis Continues”

According to the Austrian bank, the sovereign debt crisis in the euro-zone remains. Stagnation is expected for the next years.

January 25, 2012

Scharinger: „Rating Agencies Are Instruments of Torture“

The leaving CEO of RLB Upper Austria, Ludwig Scharinger, is convinced that Europe needs must make itself more competitive against the U.S. financial industry.

January 24, 2012

Low Growth Rates Expected after 2012

In a medium-term forecast, the Austrian Institute of Economic Research (WIFO) expects only very decent economic growth rates.

January 23, 2012

Growth of CEE Banking Sector Above European Average

2012 should remain a challenging year for CEE banking, with regulatory changes and European debt crisis as main risk factors, but Western European banks´ deleveraging should be a manageable drag.

January 18, 2012

Signs for Economic Stabilization

The Austrian Central Bank (OeNB) sees signs that the economic downturn trend can be stopped. A small growth in 2012 could be possible.

January 17, 2012

2012 Brings Stagnation for Austrian Economy

According to Bank Austria´s economic indicator, Austrian economic growth will only reach 0.8% this year.

January 16, 2012

South Tyrol Claims Economic Independence

In order to reach the same economic growth level of Germany or Austria, South Tyrol offers € 15.0bn to Italy.

January 12, 2012

Slow Growth in CEE Expected

According to Raiffeisen Research, real GDP in CEE to grow by 2.0 per cent in 2012, while Austria set to post GDP decline of 0.5 per cent.

January 11, 2012

Economic Inequalities between Austrian Regions

Urban regions record a significantly higher income. The economic crisis caused a decline in gross regional product and disposable income in 2009.

January 10, 2012

„Not Talking Down Austerity Policy“

Bernhard Felderer, head of the Austrian Institute of Advanced Studies (IHS), warns daily issued ideas for new taxes. First signs of a recovery are arising.

January 7, 2012

„We Are at the Tipping Point“

2012 will be a crucial year for Europe and Austria, says the director of the Austrian Institute of Economic Research (WIFO). The coming decade will be coined by debt reduction.

January 5, 2012

Worsening Economic Outlook for 2012

Economists and analysts expect a massive fall in Austrian economic growth for 2012.

January 4, 2012

Cautious Optimism at Young Entrepreneurs

In spite of the pessimistic economic outlook, Austrian young entrepreneurs feel to be well prepared.

January 3, 2012

Slight Decrease in Unemployment

In December 2011, the Austrian unemployment rate was 8.2%, which is slightly below the previous year´s level.

January 2, 2012

Austrian SME Become More Cautious

Due to the weak economy, the euro-crisis, the decrease in public expenses and equity requirements, small and medium-sized enterprises are more reluctant for investments.

December 27, 2011

Crisis Reaches Austria’s Real Economy in 2012

Economic growth will collapse next year, investment activities and consumption will suffer from the crisis. A recovery is expected for 2013.

December 21, 2011

S&P: Austria Faces Recession

The rating agency forecasts shrinking economic output for countries with large exports.

December 17, 2011

Stagnation Expected for Austria

The Austrian economy is weakening steadily into the New Year. The Bank Austria Business Indicator continued to decline in November turning slightly negative as in the previous month.

December 17, 2011

Austria Fifth Richest Country in EU

GDP per capita in the Member States ranged from 44% to 271% of the EU27 average in 2010. Austria´s figure amounts to 126%.

December 13, 2011

Only 0.3% GDP Growth in Third Quarter

The Austrian GDP stagnates, which is due to decrease in domestic consumption. The only positive impetus comes from the export industry.

December 9, 2011

Austrian Industry Contracts Further

Bank Austria’s Purchasing Managers’ Index has fallen to the lowest level for two and a half years, reflecting a lack of new orders.

December 1, 2011

OECD: 2012 Brings Stagnation

The OECD forecasts only a 0.6% growth rate for Austria. The euro-zone will experience a recession.

November 28, 2011

Austrian Government Pushes for Further Austerity Measures

The Minister of Finance, Maria Fekter, did not exclude an austerity package. First effects should be seen already in 2012. However, it is not clear yet if economic forecasts for the next year will hold.

November 26, 2011

Romanian Tourism as Chance for Austrian Economy

As the Romanian economy performs well, Austrian enterprises see the tourism sector as chance for new orders.

November 22, 2011

Leitl Promotes Exports to BRICS-Countries

The President of the Austrian Chamber of Commerce, Christoph Leitl, wants the exporting industries to focus more on Brazil, Russia, India, China and South Africa.

November 22, 2011

Austria Falls In Recession in 2012

According to analysts of Raiffeisen Research, the Austrian economy could shrink by 0.5% in 2012. Up to now, only a small growth rate has been expected by economists.

November 22, 2011

„Debt Brake“: Government Tries to Persuade Opposition

This week, the Austrian government announced to insert a maximum debt level into the constitution. The approval of one opposition party is still missing.

November 19, 2011

Austrian Firms Expect Slowing Economy

Forecasts for the Austrian economy have been deteriorating since summer 2011. The WKÖ now joins the chorus with a recent survey.

November 17, 2011

Temporary Work Increases

In 2010, 66.100 temporary workers were employed in Austria. Their number should increase up to 82.200 by 2012.

November 16, 2011
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