GDP Gross Domestic Product

Slovakia: Economic Growth Still Strong

A year-on-year economic growth was recorded in the SR in the third quarter of this year too, however, the dynamics of the growth moderated at constant prices to 2,1 %.

December 6, 2012

Polish Economy Slows Down

In the third quarter, annual GDP growth was below 2%, the Polish Ministry of Finance said today.

November 30, 2012

OECD: CESEE Countries A Risk Factor for Austria

Next year, Austria´s economy will only show a growth rate of 0.8%. Unemployment is estimated to increase further. CESEE countries would lower the grow prospects for Austria, OECD says.

November 27, 2012

Romania: Economic Upswing Expected

According with the flash estimates, real GDP declined by 0.5% qoq and by 0.6% yoy in Q3. “In our view, contraction was mainly the result of a plunge in agricultural output.” Austrian Raiffeisen Research says.

November 26, 2012

CESEE: Russia Has Best Growth Prospects

Next year, Russia is expected to record a GDP growth rate of 3.8%, Vienna Institute of International Economic Studies (wiiw) says.

November 26, 2012

Poland: Economy Expected to Recover in 2013

Poland´s Minister of Finance Jacek Rostowski is optimistic that economic growth will accelerate next year.

November 21, 2012

Nowotny: GDP Forecast Will not Hold

The governor of Austria´s National Bank Ewald Nowotny admits that the forecast on Austria will have to be revised.

November 21, 2012

Slovakia: Economy Slows Down

In the third quarter of 2012, Slovakia´s GDP grew by 0.6%. Compared to the previous quarter, the growth rate remained unchanged.

November 19, 2012

Gloomy Prospects for Ukraine

Economic slowdown is gaining momentum: GDP slumped by 1.3% yoy in the 3rd quarter, while industrial output contracted for 5th month in a row in October (by 4.2% yoy), Austrian RZB states.

November 19, 2012

Austria´s Budget Deficit to Decrease Slightly

Today, the Austrian National Assembly has resolved the budget for 2013. This year, Austria will not fulfill the Maastricht Criteria.

November 16, 2012

S&P Upgrades Latvia

The Baltic country performs well, S&P underlines. The long and short-term sovereign credit rating moved from “BBB-/A-3” to “BBB/A-2”.

November 15, 2012

Austria: Second Recession Ahead

The double-dip scenario becomes more and more likely. In the third quarter, Austria´s GDP was down for the first time since 2009.

November 15, 2012

Hungary´s Recession Goes On

In the third quarter of 2012, Hungary´s GDP was down by 1.5%.

November 15, 2012

Slovak Growth Flattens

Slovakia´s GDP still grows substantially, but slower compared to previous quarters. Employment growth stagnates, though.

November 15, 2012

Czech GDP Drops Further

In the Q3 2012 the gross domestic product adjusted for price, seasonal, and calendar effects decreased by 1.5%, year-on-year, and by 0.3%, quarter-on-quarter, according to the preliminary estimate.

November 15, 2012

Austrian Economy Shows Weakness

Economic low delayed: slight GDP decline expected in the fourth quarter, resulting in economic growth of less than 1 per cent this year.

November 15, 2012

Austria´s GDP Could be € 27bn Higher

The insufficient infrastructure costs economic growth. According to the “Future Austria Infrastructure Report 2013”, Austria´s economic performance could be substantially better.

November 8, 2012

Bulgaria´s Growth Rate to Reach 1.0% in 2012

Bulgaria´s economy performs worse than expected. Next year, economic growth will recover.

November 2, 2012

Romanian Economy to Shrink Further

With a large negative contribution expected to come from agriculture, real GDP should decline again in Q3 in quarterly terms (as well in annual terms). The contraction is likely to be larger than initially expected, Raiffeisen Zentralbank forecasts.

October 30, 2012

Estonia: IMF More Optimistic

The Estonian economy is expected to expand by 2.4% this year.

October 18, 2012

Austria: Economic Sentiment Low

Despite solution to eurozone crisis taking shape, sentiment of consumers and producers still trending down. More optimistic outlook for 2013 after stagnation in second half of 2012.

October 17, 2012

IMF Issues Optimistic Forecast for Slovakia

According to IMF, Slovakia´s economy will grow by 3.3% this year. However, the forecast had to be reduced compared to the prior forecast.

October 10, 2012

Austrian Public Debt at 75% of GDP

Public Finances 2011: Public deficit at 2.5%, Public debt at 72.4% of GDP. In the first half of 2012, Austria´s public debt level grew by € 6bn.

September 28, 2012

Austrian Federal States and Municipalities Record Massive Rise in Debt

Since 2007, the debt level of Austrian federal states rose by 87%. In the same period, the Austrian Federation´s debt was up by 27%.

September 24, 2012

Hungary Revises GDP Forecasts

Initially, the Hungarian government forecasted a GDP growth rate of 0.1% this year. Now, State Secretary Gyula Pleschinger explained that Hungary´s economy will shrink this year.

September 20, 2012

National Bank of Slovakia Adapts GDP Growth Forecast

According to NBS, the Slovak economic growth is expected to reach 2.7%. This is higher by 0.2 percentage points than NBS forecasted in June.

September 19, 2012

Slovak Economic Growth to Slow Down

The Slovak Ministry of Finance cuts the GDP forecast to 2.1% in 2013.

September 18, 2012

Polands FDI Level Stagnates

Compared to 2011, the size of foreign directed investments in Poland stays almost unchanged.

September 18, 2012

„Situation in Slovenia is not so Dramatic“

Ewald Nowotny, governor of Austria´s Central Bank (OeNB) thinks that the economic situation in Slovenia is under control.

September 18, 2012

Slovakia´s Economy Still Performs Well

In the second quarter of 2012, GDP growth came at 2.8% after 3.0% in the first quarter.

September 15, 2012

Austrian Economy to Stagnate

In the third quarter of 2012, economic growth in Austria will come to zero, Bank Austria says.

September 14, 2012

Hungarian Central Bank Against Bank Taxes

According to the governor of Hungary´s Central Bank, the bank taxes are causing the lending freeze.

September 14, 2012

Polish Public Debt Quota to Decrease

Although the planned budget deficit will not be met this year, Poland´s Finance Minister Jacek Rostowski expects a declining public debt quota.

September 12, 2012

Slovenia: Juncker Calls for Reforms

The chairman of the euro-group Jean-Claude Juncker warned Slovenia. “The situation is critical, there is no time to lose.”

September 10, 2012

Euro-Crisis Enters Austria

In the second quarter, the Austrian GDP only grew by 0.1%, WIFO says (Austrian Institute of Economic Research). A recession is not excluded anymore.

September 10, 2012

Merkel and Faymann Reaffirm their Commitment to the Euro

The German Federal Chancellor Angela Merkel met her Austrian counterpart Werner Faymann and Vice Chancellor Michael Spindelegger in Vienna. It was Merkel´s first state visit in Austria since 2006.

September 8, 2012

Romania Leaves Recession Behind

In the second quarter, Romania´s GDP was up by 0.5% The construction industry was the driving force.

September 8, 2012

Serbian Industrial Production Declines

In June, Serbia´s industrial production fell by 4.0% against 2011. The outlook is not promising, RCB says.

September 7, 2012

Lithuania´s Rating Confirmed

The rating agency Standard & Poor´s (S&P) kept Lithuania´s sovereign debt rating at BBB.

September 7, 2012

Slovakia: Rising Unemployment Despite 2.8% GDP Growth

In the second quarter of 2012, Slovakia´s GDP moved up by 2.8%. The unemployment rate reached 13.6%.

September 6, 2012

Austrian Growth Above EU Average

Unlike the Eurozone, Austria faces no recession. In the Eurozone, GDP was down by 0.2%.

September 6, 2012

Czech VAT Increase to be Resolved

The Czech government wants to increase the tax intake by € 1.0bn. Economists warn of a deepening of the recession.

September 4, 2012

Slovenia: “Danger for Austrian Banks is Limited”

Although Austria would be most affected by a Slovenian national bankruptcy, the likeliness of this scenario is rather low, analysts say.

September 3, 2012

Slovenian Bankruptcy Would Hit Austria Particularly Hard

Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.

September 3, 2012

IMF: Austria Must Prevent Spillover Effects

The Executive Board of the International Monetary Fund (IMF) has concluded the Article IV consultation with Austria. The Austrian banking sector is “overly ambitious” in the CESEE region, IMF says.

September 3, 2012

Poland´s Central Bank Dissatisfied with GDP Growth

In the second quarter, Poland grew by 2.4% instead of 3.0%. The Polish Central Bank does not want to postpone quantitative easing measures any longer.

September 1, 2012

Romania Still Shows Weak Growth Rates

“We expect economic recovery to remain sluggish. Weak external demand suggests exports and industry would not offer support to GDP growth. “ RCB (Raiffeisen Centrobank) says.

August 31, 2012

Kapsch: “We Cannot Risk the Welfare State”

At the Alpbach Meeting, the President of the Federation of Austrian Industries (IV) Georg Kapsch underlines the necessity of competition. The

August 28, 2012

Croatian Unemployment Rate Reaches 17.5%

In July 2012, the Croatian unemployment rate was up by 0.2 percentage points to 17.5%.

August 23, 2012

Solid Growth in 2012 Ahead

2011 was a record year for exports – and the first quarter of 2012 has seen the Austrian economy growing yet again. Thus, Austria is significantly below the performance of the Eurozone.

August 16, 2012
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