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Austrian Economic Headlines and Analysis

OeNB Doubles Profit Thanks to Münze Österreich

The Austrian National Bank (OeNB) more than doubled its profit from EUR 341 million to EUR 753 million in 2015 thanks to income from stake in Münze Österreich. The federal government will take EUR 508 million from the profit.

Yesterday

Snowfalls - Up to EUR 150 Million Frost Damage in Burgenland

Sub-zero temperatures over the several past nights have caused enormous frost damages in Burgenland, according to the Chamber of Agriculture. According to estimates, losses may reach up to EUR 150 million. The association of wine growers expects losses amounting to more than EUR 100 million (USD 113.5 million) in vineyards alone.

Yesterday

Austrian Railways Carried some 300,000 Refugees since 2015

Austria’s national railway ÖBB has released information today indicating that in 2015 the railway carrier transported nearly 300,000 refugees, and buildings of the ÖBB were used as accommodation on many occasions (70,000 overnight stays).

April 22, 2016

Financial Wealth of Austrians Grew EUR 10.6 Billion in 2015

Austrians saved an additional EUR 10.6 billion (USD 12 billion) last year. Due to effects of evaluation financial wealth increased by just EUR 2.2 billion. Financial wealth increased to EUR 600 billion. This means growth of 2.2 percent, compared to the previous year.

April 21, 2016

Business Indicator: Modest Acceleration in Austrian Economic Activity Despite Growing Global Risks

According to Bank Austria, the Business Indicator rose in March to 0.2 points - back in black for the first time since September. Also, Bank Austria recognized a light improvement in consumer and industrial sentiment. The estimated economic growth in 2016 is 1.5 percent - no further pick-up is expected for 2017.

April 20, 2016

Austria's Employment Up in 2013-2015, Domestic Employees Count Down

Austria's employment increased in 2013-2015 by 43.6k to 4.148 million employees, but the number of employed Austrians fell by 26.7k in the period to 3.591 million, show the data provided by stats office Statistik Austria to the daily Presse.

April 20, 2016

India-Austria Bilateral Foreign Trade Volume Increases to EUR 1.40 Billion

Last year was a very good year for India-Austria foreign trade. Experiencing a much faster growth rate than Austria’s overall trade, Austria imported items amounting to EUR 702 million from India and exported a volume amounting EUR 700 million to India.

April 20, 2016

Austria Among Top 10 Countries with Biggest Payment Bottlenecks

Austria and its main trading partner Germany ranked among the top 10 countries with the biggest payment bottlenecks, credit insurer OeKB said in the quarterly report.

April 20, 2016

Outlook for Austrian Economy Brightens Slightly

The prospects for the Austrian economy brightened slightly as Bank Austria monthly economic indicator rose to 0.2 points, reaching a positive value for the first time since September 2015, the bank said in the monthly reading.

April 15, 2016

Inflation Down to 0.7 Percent in March

Austria’s statistical office Statistik Austria reports today that strong fuel price drops have once again pulled down inflation in Austria, from 1 percent in February to 0.7 percent in March. Without the segment of fuel, prices would have grown 1.3 percent on average.

April 14, 2016