Economy

Austrian Government Says It is Prepared to Pump Virtually Unlimited Money into Economy

The Federal Government announced today that an aid package of up to 38 billion euros is being prepared to deal with the consequences of the coronavirus.

March 18, 2020

Corona-Crisis: Greatest Danger since the Financial Crisis

The OECD is sounding the alarm about the coronavirus and warned of the possibility that global economic growth could be halved this year.

March 2, 2020

Naturalisations in Austria up by 9.2%

In the first nine months of 2019, 7,610 persons were granted Austrian citizenship, including 1,416 former EU citizens. More than half of them are women. The trend of rising naturalisation figures thus continues.

November 22, 2019

Inflation in Austria falls to 2.0% in 2018

According to calculations by Statistik Austria, the average inflation rate of the consumer price index (CPI 2015) was 2.0% in 2018, slightly below the level of 2017 (+2.1%) and well above the levels of 2016 and 2015 (+0.9% each).

January 18, 2019

Growth of Foreign Controlled Enterprises in Austria

Statistics Austria reports a slight increase in the number of foreign-controlled companies in Austria. As at 31.12.2016 there were around 10,800 companies in Austria that are part of a foreign group. In comparison, the number of foreign subsidiaries of Austrian companies remained constant.

October 31, 2018

Why Austrians are the European Taillight in Financial Investments

A new statistic of the think tank Agenda Austria warns against emulating the Austrians in their investment strategy. In a comparison of 10 EU countries of real returns on financial assets, Austria came out at the bottom of the league.

October 29, 2018

Austria's Economic Upturn will Continue in the First Half of 2018

The Austrian National Bank expects GDP growth of 0.8 percent for the first two quarters compared to the previous quarter. The economic momentum is unbroken.

February 22, 2018

Moody’s Downgrades Long-Term Credit Rating of Austria

Moody’s has downgraded the long-term credit rating of Austria, from "Aaa” to Aa1. In January 2012 rating agency Standard & Poors had reduced Austria’s rating from AAA to AA+, whereas in February 2015, Fitch did the same.

June 27, 2016

Business Indicator: Modest Acceleration in Austrian Economic Activity Despite Growing Global Risks

According to Bank Austria, the Business Indicator rose in March to 0.2 points - back in black for the first time since September. Also, Bank Austria recognized a light improvement in consumer and industrial sentiment. The estimated economic growth in 2016 is 1.5 percent - no further pick-up is expected for 2017.

April 20, 2016

Purchasing Managers' Index: Austrian Industry Defies Market Turbulence and Economic Worries

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. In spite of the recent turbulence on the market and the growing economic concerns, Austrian industry is in good shape at present. Austrian industry has been enjoying an upwards trend for roughly a year now. The increase in Bank Austria’s Purchasing Manager’s Index to 51.9 points in February shows that following a dip before the turn of the year, growth has picked up again since the start of 2016. Despite the tense mood on the markets, Austrian industry is still providing good real economic data.

March 1, 2016

Austria's Industrial Production Increases in Early 2016

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy climbs to 51.2 points in January. The Austrian industry should enjoy a dynamic start to the new year. More orders ensure major production expansion. A sharp decline in price of commodities boosts earnings. At the same time, production not at full capacity, too few new jobs being created and ongoing economic uncertainties leading to targeted cost and inventory optimisation.

January 29, 2016

Business Indicator: Recovery in Austria to Pick Up Momentum in 2016

According to Bank Austria, the Business Indicator fell again in November. Now sitting at -0.3 points, the indicator has reached its lowest reading of 2015 just before the turn of the year. Despite this downward trend Bank Austria assumes that the Austrian economy will have maintained its moderate growth trajectory at the end of 2015.

December 18, 2015

VSE: US Interest Rate Decision Likely to Increase Appeal of Austrian Stocks

The Vienna Stock Exchange can look back at a year of solid developments on the stock market in 2015. The uptrend in equity trading volumes has now been sustained for more than two years: trading volumes were up by 24.3%; the ATX gained 11.20%, and innovations in bond trading were the highlights of the year. Market capitalization on the Vienna Stock Exchange reached EUR 86.28 billion in December 2015. This was a gain of 7.86% over the year-end figure of 2014.

December 18, 2015

Purchasing Managers' Index: More Moderate Industrial Growth in November

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. The Austrian economy should manage to keep better pace with European and German growth rates in 2016. With the momentum of the recovery in Europe, the industrial sector in Austria has already improved since the beginning of autumn. In spite of a weaker result compared to the previous month the Bank Austria Purchasing Managers’ Index amounts 51.4 points. This still clearly indicates growth for Austrian industry, which in the meantime has largely caught up with the pace of growth in Europe.

December 3, 2015

Business Indicator: Austria's Economy Grows by 0.9 Percent in 2015

Bank Austria has published its latest "Business Indicator" on the Austrian economy. At the beginning of the final quarter of 2015, the already moderate economic recovery in Austria seems to have lost speed. The Bank Austria Business Indicator slipped into the red in October. A sharp decline in consumer sentiment has pushed the indicator to its lowest level in eight months, despite the continual increase in confidence within industry. In addition to a slowdown of economic activity in Austria in the meantime, the opposing trend in domestic and foreign demand can still be seen in the recent Bank Austria Business Indicator. The different developments of individual sentiment components highlight the fact that neither consumption nor investment activity have gained momentum, but demand from abroad is slowly increasing. The opposing trends in domestic economic activity and foreign demand appear to have strengthened in Austria for the time being.

November 18, 2015

Purchasing Managers' Index: Pace of Austria's Industrial Growth Increases

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. At the end of the first quarter in 2015 subtle signs of a pick-up in Austrian economic activity were detected for the first time in about six months.

October 30, 2015

Recommendations from the EU to Help Austria Improve Its Economic Performance

The Austrian economy has stagnated since the second quarter of 2012. Energy prices have helped lower inflation, but core inflation is stable. The labour market has performed strongly, but challenges lie ahead. Fiscal consolidation has slowed down in 2014 due to the cost borne by the government for the financial sector, which translated into higher deficit and debt ratios. Despite a solid, but moderate current account surplus, Austria has suffered a pronounced loss in world trade market shares. While the economy is free of major imbalances, maintaining competitiveness and long term growth prospects requires constant attention and consistent policy efforts. The Commission has made four country-specific recommendations to Austria to help it improve its economic performance. These are in the areas of public finances, taxation and pensions, labour market and education, services, and the financial sector.

October 26, 2015

Xi Jinping's Strategy Represents a Significant Threat to European Industry

AEGIS Europe, the manufacturing alliance of 30 European industry associations express skepticism at Chinese President Xi Jinping's remarks to the media during London visit. The alliance called into question Mr Xi's comments to the media about China's orientation towards a more open and transparent market.

October 21, 2015

Austria's Economy Undergoing a Very Modest Recovery Despite Increasing Uncertainties

Bank Austria has published its latest "Business Indicator" on the Austrian economy. Despite increasing global uncertainties, the recovery of the Austrian economy is continuing into the start of autumn. The Business Indicator remained the same in September at 0.1 points compared to the previous month. The improved confidence in domestic industry as well as an increased tailwind from Europe compensated for the deterioration in consumer confidence.

October 19, 2015

Export Award: Austria's Best Exporters

The success of exporters on international markets secures prosperity and jobs in Austria, with six out of every ten euros generated by exports. Recently the 2015 Export Award winners were selected by an independent expert panel. The Austrian Export Award gives annual recognition to the most dedicated and successful companies.

September 11, 2015

InEquality: Economic Symposium at Forum Alpbach Launched

The Economic Symposium of the Forum Alpbach has been launched in the presence of business executives, politicians, students and the media. The core topic of this year's conference is InEquality.

September 2, 2015

Low Interest Rates are Costing Every Austrian 2,366 Euro

Due to the ongoing low interest rate environment, Austrian savers had to forego around EUR 35.5 billion in interest income over the past five years (2010-2014). On average this amounts to approx. 4,156 euro per capita. Of this, interest earned on deposits alone on average amounted to EUR 24 billion less than in the years 2005 – 2009. Anyone who invested his money in residential real estate has reason to be pleased, as prices have risen by more than a third since 2009. On stock exchanges significantly larger gains could be achieved as well, but only 3.3% of Austrians are directly invested in equities.

July 21, 2015

Rembrandt, Titian and Bellotto in Prince Eugene's Winter Palace in Vienna

The winter palace is showing around 100 important works of grand masters from the Dresden Picture Gallery.

June 26, 2015

“The Third Man” - Brand New Release of the Greatest Film of all Time

Silver screen classic “The Third Man” was shot in Vienna in 1948. It is considered to be the greatest film of all time. A brand new release of “The Third Man” will be presented in selected cinemas to audiences fully restored in 4k resolution from 26 June. This year also marks the 100th birthday of Orson Welles, who played Harry Lime.

June 25, 2015

Austrian Economy is Underperforming the Eurozone Average

Ernst & Young's latest analysis on the Eurozone forecasts that the Austrian economy is to grow 0.7% in 2015, underperforming the Eurozone as a whole for the second consecutive year. Investment is expected to remain subdued, while the contribution of exports will be only marginal as a consequence of the modest external environment.

June 24, 2015

Lower Belvedere Exhibition: Klimt and the Ringstrasse

The "Klimt and the Ringstrasse" exhibition in at the Lower Belvedere is dedicated to those charismatic painters of the Ringstrasse who exercised a profound influence on their time, namely to the work of Hans Markart, Gustav Klimt and their associates who were the greatest artists of the Ringstrasse era.

June 24, 2015

Bilderberg 2015: Full List of All 133 Participants

The full list of all 133 attendees to the top secret Bilderberg Group conference 2015 has been released (see below). The Austrians participating are René Benko, Oscar Bronner, Heinz Fischer, Alfred Gusenbauer, Erich Hampel, Wolfgang Hesoun, Gerhard Roiss, Rudolf Scholten and Karl Sevelda.

June 12, 2015 · Updated: June 12, 2015; 17:45

The Bilderberg Group - Background and Criticism

The first Bilderberg conference dates back to May 1954, when it was held at the Hotel de Bilderberg in Oosterbeek, Netherlands. Partly because of its working methods to ensure strict privacy, the Bilderberg Group has been criticised for its lack of transparency and accountability.

June 11, 2015

Bilderberg 2015: The "World Government" Meets in Austria

A select group of global elite is gathering today at the Interalpen-Hotel Tyrol in Telfs-Buchen, Austria. The 63rd Bilderberg conference is a super secret annual conference where they can discuss politics, economics and foreign policy freely. A total of around 140 participants from 22 countries have confirmed their attendance at the Bilderberg conference 2015. As ever, a diverse group of political leaders and experts from industry and finance have been invited. This year the list includes nine Austrians. Key talking points on the agenda include the Ukrainian crisis, Greece, Middle East and Terrorism (see detailed list below). Security is tight - participants as well as protesters and journalists will have to deal with the Austrian anti terror squad "Cobra". After 1979 it's the second time that the conference takes place in Austria.

June 11, 2015 · Updated: June 11, 2015; 19:00

Analysis: Austrian Economy Falls Behind Eurozone Average

The latest "Attractiveness Survey" from consultancy Ernst & Young Global Limited shows, that espite strong fundamentals, Austria’s economy lost some ground on the Eurozone average in 2014, with growth of just 0.4% compared with 0.9% for the Eurozone as a whole. This comparative weakness will also continue in 2015, with Austria’s GDP growth estimated at 1.1%, against 1.5% in the Eurozone. This is despite a boost from lower energy prices, quantitative easing from the European Central Bank (ECB) and a weaker euro.

June 1, 2015

Vienna Museum: "The Ring - The Boulevard’s Early Years, 1857–1865"

The exhibition in the Vienna Museum spans the period from the beginning of planning to the construction of the Ringstrasse in 1857 and its festive opening on 1 May 1865. Plans, designs, models and photographs are put on display for the first time. They tell of architects, painters, and sculptors searching for the style of their age. They illuminate the juxtaposition of demolition and new construction.

May 28, 2015

Analysis: The Eurovision Song Contest 2015 in Vienna

The Eurovision Song Contest 2015 has been the 60th edition of the annual Eurovision Song Contest musical event. The contest took place in Vienna and followed Conchita Wurst's victory in the 2014 edition with her song "Rise Like a Phoenix". The song "Heroes" by Måns Zelmerlöw took the winning spot in the 60th Eurovision Song Contest in Vienna with 365 points. The 2016 Eurovision Song Contest will therefore be held in Sweden.

May 16, 2015 · Updated: May 28, 2015; 08:00

The Eurovision Song Contest Village: "Let's Meet at Rathausplatz"

In the week leading up to the ESC finals in Vienna, Rathausplatz – the square in front of Vienna City Hall – will be turned into the Eurovision Village from 18 to 23 May 2015. It will be THE place to be for everyone interested in the Eurovision Song Contest (ESC) 2015. The programme starts on 18 May with the opening event featuring an international fashion show, and will continue with themed days, live performances by ESC contestants, a colourful family programme. On 23 May, the ESC finals will be broadcast live from Stadthalle and shown on Rathausplatz. For one week, the framework event under the motto "Hello Vienna. Welcome Europe!" will highlight the very best of the Eurovision nations, including culinary delights from different countries.

May 15, 2015

Vienna Stock Exchange: ATX Upswing Drives Up Equity Trading in Q1

The Vienna Stock Exchange has seen the strongest monthly equity turnover since August 2011. The average monthly trading volume to date in 2015 is EUR 5.04 billion which represents a gain of 26.61% over the average monthly trading volume of the year 2014 (EUR 3.98 billion).

April 2, 2015

Business Indicator: Economic Activity Remains Sluggish - Revival Only in Course of Year

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Austrian economy is making no headway at present after the mild improvement in the economic climate at the start of the year. The Bank Austria Business Indicator remained at exactly zero points in February after a modest increase in the previous month. The current economic situation is thus somewhat more favourable than towards the end of the previous year, but the local economy still lacks momentum as of March 2015.

April 1, 2015

Austrian Economic Activity Remains Sluggish - Revival Only in Course of Year

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Austrian economy is making no headway at present after the mild improvement in the economic climate at the start of the year.

March 19, 2015

Austria: Number of Naturalisations Increased by 3.7% in 2014

7.693 people acquired Austrian citizenship in 2014 (including 123 persons resident abroad). Compared to 2013, the number of naturalisations increased by 3.7%. Top former nationalities include Bosnia-Herzegovina (1 120), Turkey (885), followed by Serbia (671), the Russian Federation (433) and the Kosovo (381).

February 20, 2015

Finance Ministry: "Fitch Downgrade has no Impact on Austria Rating"

In response to the rating announcement by rating agency Fitch, the Austrian Federal Ministry of Finance says, that the current Fitch rating has no impact on the Austria rating due to temporary debt increase.

February 20, 2015

Austrian Population Rises Above 8.5 Million

Austria's population increases to 8.58 million at the beginning of 2015, according to preliminary results of Statistics Austria. In absolute terms, the population grew by almost 72 000 last year. Hence, population growth was significantly higher than in the previous year (2013: +56 000). More than half of the population growth was concentrated in the Eastern part of Austria (55.9%), where Vienna accounted for a large share of the total increase (38.9%).

February 20, 2015

Business Indicator: First Small Signs of Improvement in Austrian Economic Activity

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Indicator exits negative territory due to modest rise in January. Decline in oil price pushes average annual inflation down below 1 percent for 2015, injecting more momentum into private consumption. Growth forecast for 2015 raised to 0.9 percent.

February 20, 2015

Purchasing Managers' Index: Austrian Economy Still Waiting for Industrial Upswing

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. While industrial activity is slowly improving in Europe, Austrian industry is not yet in the best of form in early 2015.

January 29, 2015

Inflation in Austria Dropped Down to +1.0% in December 2014

The annual inflation rate of the consumer price index measured by Statistics Austria went down to +1.0% in December 2014 (November +1.7%).

January 19, 2015

Business Indicator: Austrian Economy Makes a Subdued Start to the New Year

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The renewed decline of the Business Indicator in December, taking it into negative territory, was influenced by the generally gloomier sentiment in the Austrian economy, which deviates to some extent from the trend seen across Europe.

January 16, 2015

Slack Performance in Austrian Industry Continues

Bank Austria Purchasing Managers' Index rises 0.5 points to 47.4, but Austrian industry contracts again in November.

November 27, 2014

Business Indicator: Economy at a Standstill - Revival in 2015 Requires New Stimulus

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The bank's indicator shows that a slight improvement in the business indicator in October - yet minimal rise to neutral territory signals ongoing stagnation

November 17, 2014

"How's Austria?" Indicator 2014 has been Published

Economic growth is not identical with progress and wealth, as the updated indicator set "How's Austria?" shows: Decline in material wealth, environmental situation still critical and ambivalent picture regarding quality of life.

November 11, 2014

Government Debt Increased to 82.6% of GDP in Austria and to 92.7% in Euro Area

At the end of the second quarter of 2014, the government debt to GDP ratio in the euro area (EA18) stood at 92.7%, compared with 91.9% at the end of the first quarter of 2014. Austria's government debt rose to 82.6 percent of GDP in Q2 2014 from 81.3 percent in Q1.

October 23, 2014

Corporate Bond Market Comment by Raiffeisen Research: OMV, Kapsch TrafficCom, Telekom Austria

"The slight correction on credit markets that lasted until the middle of last week was calmed by speculations of a possible extension of the US Fed’s expansive monetary policy stance, as well as thus far also unconfirmed reports that the ECB might expand its bond purchases to the corporate bond sector. This slight relaxation was also observable in the stock market volatility, measured by the VDAX. This indicator rose to 23.57% p.a. last week and by yesterday had fallen to 17.75% p.a." Raiffeisen Research is seeing similar market developments in their Austrian Corporate Index.

October 23, 2014

Business Indicator: Dip in Economic Activity Towards End of Year, but Hope Remains for 2015

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Bank's analysts believe that in light of the increasing uncertainty in recent months, the moderate recovery achieved by the European and therefore the Austrian economy too this year is taking a breather. The Russia/Ukraine crisis and the tensions in the Middle East have blighted sentiment in the Austrian economy at the start of autumn on a broad scale.

October 17, 2014

Business Indicator: Growing Geopolitical Uncertainty Levels the Economic Outlook Down

Bank Austria has published its latest "Business Indicator" on the Austrian economy. The analysts of Bank Austria believe, that after a weak first six months, the economic recovery continues to find it difficult to get out of the starting blocks. The growing uncertainty fuelled by the Russia-Ukraine crisis was reflected in another decline for Bank Austria’s Business Indicator in August. The indicator has been trending downwards slightly for half a year, and now sits at its lowest point since last summer of just 0.2 points.

September 18, 2014