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Austrian Economic Headlines and Analysis

Agenda Austria Recommends Campaign Against Öxit

Think tank Agenda Austria recommends the government in Austria to devise a large campaign against an Austrian exit ("Öxit”), highlighting the benefits of EU membership, since the experts anticipate an increase in discussions concerning this issue.

Yesterday

Moody’s Downgrades Long-Term Credit Rating of Austria

Moody’s has downgraded the long-term credit rating of Austria, from "Aaa” to Aa1. In January 2012 rating agency Standard & Poors had reduced Austria’s rating from AAA to AA+, whereas in February 2015, Fitch did the same.

Yesterday

Austrian Production Up 2.4 Pct Y/Y in April

Austria's production grew by 2.4 percent y/y in April, stats office Statistik Austria says. Industrial production alone increased by 3.1 percent y/y. But construction output shrank by 0.6 percent y/y, while power output was down by a heady 9.6 percent in annual comparison.

June 24, 2016

Banks Revise Growth Forecasts after Brexit Vote, Wifo Stands by Projection

Bank Austria, Erste Group and Raiffeisen are revising their growth forecasts following the Brexit vote and will likely present the updated projections next week.

June 24, 2016

Christian Kern: Brexit to Affect Europe's Global Position

"Today is no good day for the UK, for Europe, but also not a good day for our country,” Austrian Chancellor Christian Kern said in the opening of the press statement issued Friday morning in a response to the results of the Brexit vote.

June 24, 2016

Stock Markets Including Vienna Stocks Nosedive on Brexit Vote

The Vienna stocks are plummeting on Friday, in line with historic losses on other European and international markets, after the Brits voted to leave the EU in Thursday's referendum.

June 24, 2016

Austrian Economic Growth to Speed Up in 2016/17

Economic growth in Austria will take off this year thanks to extraordinary factors like the tax reform favourable for consumption, next year due to global influences.

June 23, 2016

Austrian Business Meets Foreign Diplomacy

In the context of the ‘Business meets Diplomacy’ series of events, representatives of the Austrian economy meet members of the foreign diplomatic corps for an exchange of views on Austrian business and the economy.

June 20, 2016

Austria Above EU Average in Terms of Vacancies

Austria ranked eighth in the EU in terms of the vacancies ratio in Q1 2016, an EU-wide comparison shows. With a ratio of 1.9 percent, Austria slipped from rank seven to eight y/y. Nonetheless, the Alpine republic managed to exceed the EU average rate of 1.7 percent.

June 20, 2016

EU Pumps Billions in Transport Projects, EUR 43.5 Million Go to Austria

The EC has earmarked EUR 6.7 billion (USD 7.54 billion) in investments for transport in Europe. Austria has been allocated EUR 43.5 million for nine projects altogether.

June 17, 2016