Forecasts

How the USA Assesses the Austrian Economy

Every year, the United States government publishes a report that informs US companies and investors about the business climate in more than 160 countries and economies, including Austria. In this US State Department report, business officials at embassies and missions around the world prepare and analyse a variety of economies that are or could be markets for US companies of all sizes. Read on if you want to know how the US views the Austrian economy!

August 4, 2022

Austrian National Bank Expects Highest Inflation Rate in 50 Years

In a recent analysis, the Austrian National Bank expects inflation in Austria to settle at 7.6% in 2022. This particularly high value represents the highest inflation since the crude oil crisis in the 1970s. Inflation is also expected to remain above the target of 1.9% in the coming years.

July 11, 2022

Why Austria's Economic Recovery is Losing Momentum

According to the Austrian Institute of Economic Research (WIFO), the global economic slowdown, which mainly affects industry, has dampened Austria's economic outlook. This downturn is only dampened by tourism, which has recovered better than expected since the Covid-19 pandemic.

June 30, 2022

EU Oil Embargo: Little Impact on Austria's Economy Expected

The planned EU embargo on Russian oil in response to the war of aggression in Ukraine will have far-reaching consequences for Europe. This is also the case for Austria. In a report, the Austrian National Bank examines the impact on the Austrian economy and forecasts comparatively mild effects. Nevertheless, the embargo conceals a number of risks that could also have a serious impact on Austria.

June 8, 2022

War in Ukraine Continues to Dominate Austria's Economic Outlook

In a recently published report, the Austrian Institute of Economic Research (WIFO) gives an insight into Austria's economic situation and forecasts the development of the economy over the next few years. The Omikron wave and the war in Ukraine will continue to slow down Austria's economic growth in the next few years and no relief is expected for the time being. Nevertheless, there is also good news concerning the labour market.

May 12, 2022

Due to the Ukraine War: Austrian National Bank Still Expects Huge Inflation in 2022

Shortages of raw materials and high energy prices, triggered by the Russian war of aggression in Ukraine, have led to an increased inflation rate of 5.6% in Austria. After the highest measured inflation rate in March 2022 since joining the monetary union, there is no easing now; this is not expected until 2023.

April 11, 2022

Economic Outlook for Austria: The Kremlin's Aggression against Ukraine is a Game Changer

After a few tough years in which the Covid-19 virus shaped the Austrian economy, a new enormously important factor is coming into play - the war in Ukraine. The Russian aggression led to more pessimistic economic outlook and will still play an enormous factor in the Austrian market in the future.

April 4, 2022

Economic Growth: Austria Slightly Above EU Average

The Austrian economy is likely to grow by 1.5% in 2019. 1.2% growth is expected for the euro zone and 1.4% for the EU as a whole.

August 8, 2019

UniCredit Final Restructuring Program on Bank Austria's Retail Business

UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.

December 15, 2015

OVAG to Merge With Another Bank?

A merger or collaboration of some sort with another bank may be in sight for Austrian bank group Osterreichische Volksbank AG (ÖVAG), Standard daily reports in its Tuesday issue. US investment bank Lazard is on lookout for offers.

September 9, 2014

Wienerberger Increases Capacity in the UK

Rising demand in the UK made it necessary for Wienerberger to initiated measures to increase its capacity. Around 200 million more bricks per annum will be produced by re-activating mothballed factories, investing in technology upgrades, adding shifts and new jobs throughout its UK operations, and importing from the continent. Earnings contribution from re-activated plants will be reflected in 2015 results

July 17, 2014

Czech Republic: CNB Demonstrates Optimism

The Czech National Bank has revised the economic outlook. Domestic demand remains is expected to remain weak.

February 7, 2014

Polish Economic Growth Boosted by Exports

Due to the growing exports, Poland´s GDP accelerated in the third quarter.

November 29, 2013

Austria: Consumers Become More Cautious

Weak consumption is the main reason for the stagnation in Austria.

November 19, 2013

Calculated Optimism in Slovenia

Slovenia´s Ministry of Economics expects a return to growth in the course of next year. According ot economists, this forecast is leading to doubt.

October 15, 2013

Croatia: Domestic Consumption Remains Weak

In the next years, Croatia´s economic performance will mainly depend on external factors.

October 5, 2013

Romania: Recovery Depends on External Factors

Thanks to foreign demand and foreign investors, Romania´s economy accelerates. However, domestic demand is still the country´s weak point.

October 4, 2013

CESEE: Recovery Slow, but Stable

Corporate sentiment improving in major CEE countries as well, as the economic recovery begins to take root. Low point in interest rates has essentially been reached, rises in yields to follow trends in the developed markets, RZB says.

October 4, 2013

Poland: Recovery Remains Fragile

Poland´s economy has bottomed out. However, the recovery mainly depends on foreign demand.

September 26, 2013

Czech Republic: Economic Frame Conditions to Brighten

The Czech National Bank expects slightly better economic data for the Czech Republic this year.

September 21, 2013

Slovakia: Economic Forecasts Improves

The economic perspective for Slovakia remains rather gloomy. In 2014, Slovakia´s economy will reach the turnaround.

September 21, 2013

Eight Austrian Banks to be Supervized by ECB

The European Central Bank will supervise 130 banks in the Eurozone. 18 German and six Austrian banks will have a new supervision authority.

September 6, 2013

Poland: Economy Begins to Accelerate

In the third quarter of 2013, Poland´s economy will grow by 1.0% year on year.

August 31, 2013

Czech Republic: GDP to Shrink Further

The Czech Republic will not leave the recession behind soon. The economic forecasts had to be revised again.

August 31, 2013

Slovenia: Economic Sentiment Stabilizes

This year, Slovenia will not be able to leave the recession behind. However, the economic sentiment begins to improve in some sectors.

August 5, 2013

Austrian Industrial Sector Fears Drop in Exports

In the first five months of 2012, Austrian exports were only up by 3%. The outlook is rather gloomy. The Austrian Chamber of Commerce demonstrates pessimism.

July 18, 2013

CNB Expects Croatian GDP to Contract Remarkably

The Croatian National Bank forecasts a GDP decline of 1.0% in 2013.

July 17, 2013

Russia Only Posts Moderate Growth Rates

Russian economists forecast that the Russian GDP will grow by 1.6% this year. This is substantially below the growth rate of 2012.

July 16, 2013

Austria: Consumer Confidence Negative

Today, Bank Austria has published its monthly economic indicator. Domestic demand will not grow this year, Bank Austria says.

July 16, 2013

Poland: Economy Not to Recover Before July

Polish economy is not expected to rebound as soon as the second half of this year and only on the condition that export partners see a growing GDP rate.

May 15, 2013

Austria’s Economy Grows Faster Than Eurozone

Economists of the International Monetary Fund (IMF) are confident for a positive development of Austria’s economy.

April 16, 2013

Czech Republic: Finance Ministry Worsens Economic Outlook

In an updated macroeconomic forecast for the economic development, the Czech Finance Ministry deteriorated the country’s outlook.

April 16, 2013

Poland: Inflation Rate for Private Individuals At 1.6 %

March was the seventh consecutive month of decline in private individuals' inflation expectations. Respondents place average inflation rate as expected over the next 12 months at 1.6%.

March 30, 2013

Hungary: Economic Growth Only in 2014

The MNB, the National Bank of Hungary estimates economic growth to further stagnate in 2013 but forcasts positive devolopments for the next year.

March 29, 2013

Romania: Positive Outlook on Economy for Next Months

For the months of March to May 2013, experts forecast economic growth of up to 35 % in some sectors.

March 29, 2013

Austria: Negative Outlook for Banks

Moody’s current analysis paints a rather bleak picture about the situation of the Austrian banking industry.

March 8, 2013

Poland: Government Retains Economic Forecast

Despite the economic slowdown, Poland´s Minister of Finance Jacek Rostowski demonstrates optimism.

March 5, 2013

“Austrian Industry Still Taking a Breather”

Signs of a stabilisation emerging in employment. |Reduced cost pressure as a result of current price trends. | Delayed spring awakening in industry may provide too little support for a GDP increase in the first quarter of 2013.

March 5, 2013

Mixed Outlook for Russia

This year, Russia´s GDP will grow by 3.3%, the World Bank predicts. Regarding economic reforms, Russia must improve its effort, though.

March 4, 2013

Bulgaria: Economy to Stabilize

Despite the enormous political instability, Bulgaria is expected to record positive growth rates this year.

February 28, 2013

EU Commission: Austrian Growth Above EU Average

Unlike the Eurozone, Austria will record a positive growth rate this year. Within the EU, the situation is highly different.

February 22, 2013

Romania: Disappointing Economic Growth

“According with the flash estimate, GDP increased marginally in Q4 2012 (+0.2% qoq), which was a touch above our expectations and market consensus”, Raiffeisen Research reports.

February 21, 2013

Austria: “Things are improving, but only slowly”

“The decline in the fourth quarter of 2012 is old news.” Austria’s economy growing moderately again in the first quarter, Bank Austria says. Economic growth in 2013 to be slightly higher than last year.

February 15, 2013

Boom Market Turkey: Overheating or an Investment Opportunity?

Erste Group: “A Positive Outlook on the Bosporus”. This year, Turkey´s expected GDP growth comes at 4%.

February 11, 2013

Voestalpine: CEO Eder Cautiously Optimistic

CEO Wolfgang Eder anticipates an economic recovery in the second half of 2013. Despite the difficult framework conditions, voestalpine´s management retains the earnings forecast.

February 7, 2013

Austria´s Economic Situation Is „Unfavorable“

Today, the German economic research institute ifo has published a report on the economic outlook in the Eurozone.

February 6, 2013

CESEE: Economic Outook Brightens Slightly

According to a survey carried out by OeKB (Austrian Clearing Bank), investors in the CESEE region are more optimistic.

February 6, 2013

Czech Republic Returns to Growth Slowly

According to the Czech Ministry of Finance, the recovery will be only gradual. This year, GDP is expected to increase by 0.1%.

February 2, 2013

Slight Upward Trend for CESEE Countries

The economic crisis in the Eurozone has hit the CESEE countries particularly hard, EBRD reports. 2013 will be a better year.

February 1, 2013

“Austria’s Industry Edges Towards Economic recovery”

Bank Austria Purchasing Managers’ Index for January increases slightly. Moderate improvement in orders helps to offset the decline in production output.

January 31, 2013
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