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Income
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 Real Wage Growth 1.1% in 2013
According to the management consultancy firm Aon-Hewitt, the wage growth will come at 3.3% in Austria. Real wage growth will be slightly above the average.
September 10, 2012
Austrian Chamber of Labor: Loss in Real Income at 1.5%
Between 2000 and 2010, the average inflation and tax-adjusted net income was down by 1.5% in Austria, AK (Austrian Chamber of Labor) says.
September 5, 2012
270,000 Austrian Households Are Insolvent
The gap between rich and poor households is growing persistently. The number of over-indebted households is still growing.
September 4, 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
Debt Crisis: “Somebody Will Have to Pay”
European Forum Alpbach 2012: Andreas Treichl, CEO of Erste Group thinks that the internationalization of the banking industry cannot be reversed. According to Treichl, the European citizens will have to pay for the crisis.
August 30, 2012
Hungary: Debt Crisis in Private Sector Unsolved
Despite the conversion of foreign currency loans, the number of non-performing loans is growing rapidly. According to analysts, the outlook is bad.
August 29, 2012
Serbia: Rise in Poverty Expected
The economic crisis in Serbia sharpens. Millions of households are not able to repay their debts.
August 25, 2012
Orban Underlines Success of Hungarian Crisis Management
Hungary´s Prime Minister Viktor Orban wants to lower the public debt quota further. Hungary´s recession would be due to the weak Eurozone, he says. Orban forgot to mention some details, however.
August 24, 2012
Declining Real Income: UBS Defends Report
Paul Donovan, author of the controversial study, was criticized by Austria´s Central Bank and Bank Austria. Donovan underlines that his study is correct.
August 24, 2012
Real Income Development: Austrian Central Bank Opposes to UBS
According to OeNB (Austrian Central Bank), real income rose by 12.2% from 2000 to 2010. UBS recently published a study, which reported that the real income fell by 25%.
August 23, 2012
Is the Euro Bad for Austria?
According to UBS, the Austrian real income was down by 35% since 2000. The introduction of the euro is the main reason, UBS says. UniCredit and the Federation of Austrian Industries oppose to the study.
August 22, 2012
Austrian Real Income Fell Dramatically
Economists often say that Austria has benefitted from the euro. According to a study of UBS, Austria has lost a substantial degree of prosperity, however.
August 20, 2012
Hungary: Real Income Shrinks
The Hungarian economy faces a substantial recession this year. Despite growing gross incomes, real income decreased by 4% last year.
July 25, 2012
Austrian GDP per Capital € 35,710 in 2011
Austrian economy 2011: growth of +2.7% despite challenging global environment. The manufacturing industry was the driving factor of the growth last year.
July 13, 2012
Substantial Wage Differences Between Austrian Industries
Median gross hourly earnings 2010 € 12.79; differences by branches and occupations.
July 12, 2012
Purchasing Power in CEE Region: Czech Republic Ranks First
Among Poland, Slovakia and the Czech Republic, Bratislava records the biggest regional purchasing power. In total, the Czech Republic ranks first.
July 7, 2012
Strong Increase in Unit Labor Costs
Since 2008, the Austrain economy records a disproportionately high increase in unit labor costs. The average of the eurozone amounts to 6.4%. In Austria, the unit labor costs were up by 11.1%.
June 29, 2012
Austria Among More Expensive EU Countries
In 2011, the price levels varied from 51% of the EU27 average in Bulgaria to 142% in Denmark. Austria came at 107%.
June 26, 2012
Austrians Highly Care About Retirement Provision
Austrians highly appreciate the security and stability of their own country and this is also reflected in their approach to financial matters and retirement provisioning.
June 8, 2012
Life Quality: Austria in the Upper Middle Field
Austria´s position in the “Better Life Index” is in the upper middle field. The work-life balance and the education are seen as weaknesses.
May 22, 2012
Massive Gap in Purchasing Power
Purchasing Power Parities 2012: Higher travel costs for overseas destinations; Austrians' purchasing power 40–70% above the level in Slovakia, Czech Republic and Hungary.
May 21, 2012
Pressure on Medium Income Earners Rising
The Austrian Chamber of Labor warns that the number of people who do not get by with their income anymore rose to 60%.
April 28, 2012
Austrian Purchasing Power on the Rise
In spite of the austerity package, disposable income is increasing. Last year, income was up by € 500 per head.
April 13, 2012
Austrian Wage Tax Intake Grows
The Austrian wage tax volume totaled 21.6bn in 2010. Gross wages were up by 2.5%.
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
Austrians Tend to Save More
According to Generali Austria, Austrians tend to lower expenditures for clothing and vacations. Every third respondent says to have a lower budget than in 2010.
January 3, 2012
Increase of Agricultural Income
First estimates of the Economic Accounts for Agriculture (EAA) compiled by Statistics Austria show an average increase of the income related to agricultural activities.
December 20, 2011
Austrian Poverty Rate Unchanged
EU-SILC 2010: No increase of the at-risk-of-poverty rate due to the economic crisis; declining living conditions for the poor in a long-term perspective.
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
Women´s Income Below Men
In Austria, the annual income of women is still considerably below men. However, this is mainly due to part time work. Male employees in private sector are top earners.
December 6, 2011
Increasing Gap in Incomes
Although Austria´s Gini coefficient is relatively low, the gap between high and low incomes becomes larger.
December 6, 2011
Poverty: 1.0 Million Austrians Endangered
In Austria, 12% of the population is endangered of poverty. About the half of this group is permanently poor.
November 14, 2011
Decreasing Importance of Blue Collar Worker´s Income
The share of wages in employed income decreases. The difference between blue collar and white collar workers further goes up.
November 2, 2011
Unequal Distribution of Wealth in Austria
The richest 10% of Austria´s population possess 54% of the monetary wealth. Regarding real estate, inequality is observed too.
October 30, 2011
WIFO Claims Property Tax
Karl Aiginger, CEO of the Austrian Institute of Economic Research calls for a significant increase in taxation of real estate and fuel.
October 24, 2011
Economic Crisis: Austrians Pessimistic
The majority of Austrians thinks that the economic crisis will persist and will become even worse.
October 1, 2011
Wealth Growth of Private Households Comes to a Halt
Austrian households’ financial assets increased only marginally to € 462bn in the first quarter. Investments in bank bonds were the driving factor with a total of € 1.1bn.
July 14, 2011
Prosperity to Rise, But Savings Propensity on a Decline
Monetary wealth of Austrians expected to rise 14.4% or from € 7,900 to 62,800 by 2015; savings ratio to decrease from 9.1% to 8.1%. In 2010, Austrians saved € 1,819 on average.
May 6, 2011
Real Purchasing Power: The Gap Between Austria and the CEE Region is Getting Smaller
For the coming years, a steady rise in unit labor costs in the CEE countries with the corresponding impact on the competition for business locations is expected.
April 16, 2011
Saving in Austria Decreases
According to Statistics Austria, Household saving rate down to 9.1% in 2010.
April 7, 2011
12% of Austrian Population at Risk of Poverty
Europe 2020 strategy against risk-of-poverty and exclusion: Every sixth person in Austria is in target population.
January 21, 2011
Changes in Living Standard of Austrians
A WIFO study compares the required average working time of industrial workers to the purchase of goods and services over the passage of time.
December 31, 2010
Income Report: Workers' Wages Fell in Real Terms
In its income report, the Audit Court presents the evolution of the income of the Austrians. Increasing differences can be identified.
December 24, 2010
Increase of Austrians’ Purchasing Power
Despite higher taxes and lower benefits, the purchasing power of the Austrian people will grow in 2011 by an estimated 2.6%.
December 7, 2010
Private Consumption of Austrians Increases
After the crisis of 2009, in which private consumption stagnated, expenditure on consumption rises massively again. The growth rate is 4.2%,
November 17, 2010
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