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Austrian Economic Headlines and Analysis

Austria’s Tourism Reports Highs Despite Less Russian Visitors

Austria has welcomed much more western tourists in this summer season (May and June) than a year ago. The number of overnight stays rose by 2.1 percent to 17 million, a record high, even though the number of overnights stays of tourists from Russia caved in 30 percent y/y or 51,000.

July 29, 2015

Austrian Industrial Production Up Slightly in May

In May this year the Austrian economy produced slightly more than in the same month of last year. The production index increased by 0.7 pct, the latest data from Statistik Austria show. Compared to April this year production decreased by 0.8 pct.

July 24, 2015

Less Company Bankruptcies in H1 2015

In H1 2015 the number of corporate bankruptcies slipped by 11 percent y/y to 2,610. 1,528 cases (down 8.4 percent) have been opened and 1,082 bankruptcy cases (down 14.6 percent) were closed due to lack of insolvency assets. Only 14 percent of all proceedings involve reorganisations, Creditreform creditor association reports.

July 23, 2015

IHS: Austria to See Average Growth Rate of 1.6 Pct a Year by 2019

Austria's economy will grow at a moderate pace of 1.6 percent on average per year until 2019, think tank IHS said in its 2015-2019 forecast. In the previous forecast from last year, IHS expected a 0.25 percent higher growth rate.

July 22, 2015

Austrian State Budget Realisation on Track after 5 Months

Austria raised EUR 27.9 billion (USD 30.3 billion) in taxes flowing to the state budget in January-May this year, while expenditures amounted to EUR 31.1 billion, according to the data of the Finance Ministry.

July 22, 2015

Low Interest Rates are Costing Every Austrian 2,366 Euro

Due to the ongoing low interest rate environment, Austrian savers had to forego around EUR 35.5 billion in interest income over the past five years (2010-2014). On average this amounts to approx. 4,156 euro per capita. Of this, interest earned on deposits alone on average amounted to EUR 24 billion less than in the years 2005 – 2009. Anyone who invested his money in residential real estate has reason to be pleased, as prices have risen by more than a third since 2009. On stock exchanges significantly larger gains could be achieved as well, but only 3.3% of Austrians are directly invested in equities.

July 21, 2015

Survey: Austrians Less Eager to Save Money

Austrians are again saving less. This one of the the conclusions of the latest "Wirtschaftsbarometer" of the Linz-based market research institution Spectra, published on Tuesday. The quarterly report investigates, among others, willingness to save money and economic optimism among Austrians.

July 21, 2015

OeNB: Economy to Recover Moderately

The central bankers in Austria expect a moderate market revival, based on the improving order volumes of Austrian firms. The reason for this development are improved international conditions, a depreciating euro and lower energy prices. According to the central bank’s (OeNB) economic sentiments indicator the GDP is seen rising 0.2 and 0.3 percent, respectively, in Q2 and Q3 2015.

July 20, 2015

Austria's Inflation Stays at 1.0 Pct Y/Y in June

Austria's annual inflation rate measured 1.0 percent in June, the same level as in the previous three months, stats office Statistik Austria said.

July 16, 2015

Used Car Registrations Surge by 11.8 Pct Y/Y in June, Slip in H1

Austrian used car registrations surged by 11.8 percent y/y in June to 95,542, stats office Statistik Austria said. Passenger car registrations accounted for 73,883 of the total, up 12.3 percent y/y.

July 16, 2015