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Inflation in Austria: Highest Value Since Post-War Period
Inflation in Austria is getting higher and higher. At 10.5%, it has now exceeded the magic limit of 10 percentage points and is thus considered the highest inflation in Austria since the post-war period. Read on if you want to know which products have become more expensive!
October 25, 2022
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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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