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

Published: October 17, 2014; 17:30 · (FriedlNews)

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.

Dip in Economic Activity Towards End of Year, but Hope Remains for 2015 / Picture: © UniCredit Bank Austria AG

The Bank Austria Business Indicator for October 2014 provides an overview of the current economic situation in Austria.

  • Bank Austria Business Indicator sinks to -0.2 points in September: weaker sentiment across the board weighs down on outlook for coming months
  • After very poor economic development in the final quarter of 2014, the recovery should pick up some pace again in 2015
  • Demand impulses from other countries will stimulate exports and investments: GDP growth of 1.6 percent expected for 2015 after just 0.6 percent in 2014
  • Greater risks, and economic policy under huge pressure, despite cautious optimism for 2015

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.