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Austrian Economic Headlines and Analysis

Grexit: Maximum Loss for Austria EUR 9.3 Billion, According to FAZ

The maximum loss in case of Greece's default amounts to EUR 317 billion - this is the total value of the Greek state's debts. According to "Frankfurter Allgemeine Zeitung", which relied on data from UBS, Ifo and Eurostat, Germany would have to bear most of the burden, i.e. EUR 87.6 billion. According to the newspaper, Austria could lose up to EUR 9.3 billion (USD 10.328 billion).

July 3, 2015

ABA Invest: Foreign Direct Investments into Austria Increasing

In the first half of 2015, international entities established a record number of new businesses in Austria. The number of new investment projects in the first six months of this year increased from 114 to 152, according to ABA Invest.

July 3, 2015

Austrian Retail Sales Down 0.9 Pct M/M in May - Eurostat

Austria's retail sales shrank by 0.9 percent m/m in May, the EU stats office Eurostat said. In the EU, retail sales increased by 0.3 percent m/m, while in the euro-zone they grew by 0.2 percent.

July 3, 2015

Moody's Concludes Reassessment of Austrian Banks

BAWAG P.S.K., Raiffeisenlandesbank Tirol and Raiffeisenlandesbank Vorarlberg received the best ratings among biggest Austrian banks from US rating agency Moody's.

July 2, 2015

OeNB: Growth of Credit Activity Still Restrained

Credit growth in Austria is still very weak, but it is much better than in the whole Eurozone. In the period from February to April the annual growth of corporate loans remained unchanged at 1.2 percent. The pace of growth of household loans remained at 1.3 percent the national central bank announced.

July 2, 2015

Jobless Rate in Vienna Up 11.9 Percent

The number of registered unemployed in Vienna rose by 22.7 percent y/y in June 2015, to 122,007, it was reported by the job market agency Arbeitsmarktservice. The sum of registered unemployed and training participants increased by 11.9 percent.

July 1, 2015

RBI: Greece Seen Causing Only Temporary Turbulence on Stock Markets

Stock market turbulence caused by the development of the situation in Greece will be only temporary, RBI bank analysts said of the latest share price declines.

June 30, 2015

Austria to Acquire 0.5 Pct in China's Asian Infrastructure Investment Bank

Austria will hold 0.5 percent in the Asian Infrastructure Investments Bank (AIIB), the founding documents of which were signed on Monday, the Finance Ministry told APA. The deal costs Austrian tax payers USD 100 million.

June 30, 2015

Debt in Austria Reaches Historic High

The volume of debt in Austria has reached a historic high, Statistik Austria reports. According to its data, debts totalled 4.9 percent of the GDP or EUR 280.2 billion (USD 311.6 billion) at the end of Q1 2015. This marks a rise of the debt volume by 0.3 percent of the GDP compared to the end of December.

June 30, 2015

RZB with No Engagement in Greece, Expects No Impact from Current Affairs

Austria's bank RZB expects the current turmoil in Greece to have hardly any impact on Austria, the group's CEO Walter Rothensteiner said. There may be some slight increase in the state debt, in the vent of Greece's default, he expects.

June 29, 2015