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Austrian Economic News and Analysis
Read the latest headlines about Austria's economy, including news on inflation, growth domestic product (GDP), nation's debt and labor market
GDP Growth below Expectations in Q2
The real growth rate was revised downwards to 0.7%. Wifo expects a normal slowdown but no economic crisis.
September 16, 2011
RH Warns: Alarming Increase in Public Debt
Austrian government debt is growing rapidly. From 2006 to 2010, government expenditures went up by 18.2%.
September 15, 2011
Employment Numbers Rose in the Second Quarter
Number of employed increased, number of unemployed decreased, more vacancies in the second quarter of 2011.
September 15, 2011
Inflation Falling Slightly in August
Consumer price inflation dropped to 3.4% in August. Above-average price increases were registered for traffic and household energy.
September 15, 2011
Construction Costs Continue to Increase
August brought a further rise in construction costs: +2.3% against 2010, +0.3% compared to July 2011.
September 15, 2011
Austrian Households with Second Lowest Debt Ratio in Western Europe
A lower ratio was only recorded for Belgium. In the year 2010, Austrians’ gross financial assets averaged € 59,346.
September 14, 2011
Decline in Savings Deposits Continues
Business development of Austrian banks in the first half of 2011: Balance sheet total grows; volume of demand and fixed-term deposits increases.
September 14, 2011
Firms Budget 2.8% Wage Increase
Top management of Austrian companies will likely benefit from the highest pay rise next year.
September 14, 2011
„Education at a Glance“: Austria Falls Behind
According to the study of the OECD, Austria has a slightly rising level of graduates. Nevertheless, the difference to the OECD average is still substantial.
September 13, 2011
No Common Trend for CEE-Countries
Regarding economic growth, prospects for CEE countries have worsened slightly. However, the region remains heterogeneous.
September 13, 2011
Economic Downturn Reaches Austria
A current survey indicates an imminent deterioration of the Austrian economy. Researchers don’t expect a recession but a clear downward trend.
September 9, 2011
Austrian Economy 2010: Noticeable Recovery
According to calculations by Statistics Austria, the Austrian economy grew by 2.3% in the year 2010. GDP per inhabitant amounted to € 34,120.
September 9, 2011
New Car Registrations Up by 4.8% in August
Registrations of new motor vehicles in August 2011: +4.2%; passenger cars: +4.8%, lorries: -0.3%.
September 9, 2011
Retail Trade with Significant Drop in Revenue in July
Adjusted for inflation, revenue of the Austrian retail companies declined by 4.6% compared to the previous year.
September 8, 2011
Asfinag Pays First Dividend Since 2008
A pending lawsuit might cost the Austrian motorway financing company up to € 37m. Full-year profit is still expected to rise.
September 8, 2011
Austrian Competitiveness Shrinks Further
According to a market survey of the consulting group Ernst & Young, Austria´s international competitiveness has still worsened and fell from rank 18 to 19.
September 7, 2011
IMF Puts Pressure on Austria
The IMF shows itself content with the Austrian post-crisis policies. But now, Austria has to reduce new indebtedness.
September 7, 2011
Upward Trend for Austrian Service Industry
Austrian service enterprises achieve turnover increase by 4.6% in the first half of 2011
September 7, 2011
Strong Rise in Industrial Prices Holds On
Austrian Wholesale price index in August 2011: +6.9% against August 2010. However, compared to July 2011, prices decreased.
September 7, 2011
Federation of Austrian Industries: “No New Taxes!”
The debate about the introduction of property taxes in continues. The Institute of Economic Research (WIFO) approves such taxes.
September 6, 2011
Austrian Foreign Trade Rising Significantly
January to June 2011: Austrian imports rose by almost 19%, Austrian exports increased by more than 17%
September 6, 2011
August Brings First Rise in Unemployment Rate in 17 Months
First signs of a weakening labor market: The number of unemployed rose by 0.4% to 219,247 in August. Job vacancies were down 6.7%.
September 1, 2011
Strong Growth in Lending to Private Households
Loan development in the second quarter: Total lending volume grows; opposing trends are registered for new loans to enterprises and private households.
September 1, 2011
Wifo Cuts Growth Forecast for 2012
The research institute sees the current economic upward trend coming to an end but does not expect a recession in Europe.
August 31, 2011
Austria Confirms Top Ranking in EU Unemployment Statistics
The Austrian unemployment rate continued to decline in July. It dropped to 3.7% from 3.9% in June.
August 31, 2011
Strong Growth in Industrial and Construction Turnover
Positive production trends in industry and construction in May 2011; total turnover up 18.7%. Automotive industry and engineering are dominant factors.
August 30, 2011
Slight Increase in Construction Output
Austrian output of construction of buildings and civil engineering increased by 1.9% in the period from January to May 2011. Volume of orders grew 7.9%.
August 30, 2011
Rapid Increase in Household Energy Prices
Austrian energy prices rose by 10.9% year-on-year. Diesel and gasoline were main drivers with a plus of 19.3% and 14.2%, respectively.
August 29, 2011
IHS: No Zero Deficit until 2021
The research institute calculated that Austria will not be able to achieve a balanced budget in the next ten years. Felderer calls for reforms of the pension and healthcare systems.
August 24, 2011
Production Index: Construction Output Down 3%
Production index in June 2011: +5.5% compared to June 2010, -0.8% against May 2011.
August 24, 2011
Significant Decline in Used Car Registrations
Registrations of used motor vehicles in July 2011: -7.5%; passenger cars -6.5%, lorries -11.6%.
August 19, 2011
Consumer Confidence Declines in the Second Quarter
In line with the global trend, Austrian consumers have recently become less optimistic. Major concerns are rising cost of living and the general economic situation.
August 19, 2011
Industrial Producer Prices Up 3.9% in June
The Producer Price Index fell marginally against the previous month. Compared to June 2010, prices were still 3.9% higher in June 2011.
August 19, 2011
Forecast on Savings and Loans Trends: Austrians Invest € 5,670 on Average
Savings passbooks remained the most popular form of saving in Austria. The average loan volume dropped from € 70,200 to € 62,000.
August 17, 2011
Inflation Speeds Up in July
Consumer price inflation rose to 3.5% in July, the highest value since September 2008. Mineral oil products remained the main price driver.
August 17, 2011
Economic Upward Trend Continued in Second Quarter
From April to June, Austrian GDP grew by 1% compared to the first three months of 2011 while the euro zone average was only 0.2%.
August 16, 2011
Further Increase in Construction Cost
Construction cost continued to increase in July 2011: +2.1% against 2010, +0.1% compared to June 2011.
August 16, 2011
Economic Growth to Slow Down Significantly
Industry and consumer sentiment is at its lowest level since mid-2010. The GDP growth rate is predicted to fall to 1.8% in 2012.
August 12, 2011
Construction Output Price Index Keeps Increasing
The index reached 103.2 points in the second quarter: +3.6% year-on-year, +0.5% against the first quarter.
August 10, 2011
Slightly Positive Development of New Car Registrations in July
Registrations of new motor vehicles in July 2011: -2.3%; passenger cars: +1.1%, lorries: +5.0%.
August 9, 2011
Wholesale Prices Still on the Rise
Wholesale price index in July 2011: +9.3% against July 2010, +0.2% against June 2011. Main drivers were cereals, fertilizers and gasoline.
August 5, 2011
Foreign Trade Volume Keeps Growing
Austrian imports and exports both increased by more than 20% in the period from January to May 2011. The global foreign trade balance showed a deficit of € 2.59bn.
August 5, 2011
Debt Crisis Dampens Austrians’ Propensity to Buy
Austrians are reducing consumption and increasing their savings. Only 24% expect an economic upswing.
August 2, 2011
Austrians Buy Less – Sales in Retail Trade Dropped 0.8%
Sales volume of food retail trade was up 0.3% in the first half of the year while the non-food sector registered a decline by 0.8%.
August 1, 2011
Decline in Unemployment Rate Continues
The number of unemployed fell by 4% to 262,904 in July. The positive development has lasted for 17 months already.
August 1, 2011
Start-Ups in Austria 2009: Rate of Enterprise Creation at 6.9%
On average, 2.4 jobs were created per start-up. 85.4% of all new enterprises were operating in the services sector.
August 1, 2011
Austrian Industrial and Construction Turnover Up by 10.9%
Opposing production trends in industry and construction in April 2011; turnover increased by 10.9%. Energy and metal industry are dominant factors.
July 29, 2011
Construction Output Down by 3.4%
Austrian output of construction of buildings and civil engineering decreased by 3.4% from January until April 2011. Volume of orders increased by 8.1%.
July 29, 2011
“Austria Was Boosted by EU Accession, Euro and Opening to Eastern Europe”
Bank Austria analyzed the development of Austria since the EU accession in 1995. It concluded that the economy has taken full advantage of the opportunities offered by the changes.
July 28, 2011
Retail Trade: No Improvement Expected
After weak first six months, the Austrian retail sector hopes for increasing demand in the second half of 2011. Weak development of incomes reduces consumers’ willingness to spend.
July 27, 2011
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