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Forecasts

Bene Investor Bartenstein: Waidhofen Will be Maintained

After the takeover of furniture maker Bene in June investors Martin Bartenstein and Erhard Grosnigg have made a statement, assuring that a relocation of the Austrian factory of the firm was out of the question and no more layoffs were planned for the time being.

Yesterday

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

Bank Austria: Recovery of Austrian Economy Losing Steam

The recovery of Austrian economy is losing momentum. Worries about economic development in Asia and about the Greek crisis are weighing down on the sentiment, according to economists from Bank Austria. In 2015 the rate of unemployment may grow to 9.2 percent.

July 15, 2015

RHI Boss Dampens Long-Term Expectations

The listed Austrian refractories group RHI has abandoned its sales target of EUR 3 billion in 2020. "When we formulated our vision for 2020 in 2012, the world was a bit different” RHI boss Franz Struzl declared in "Kleine Zeitung".

July 6, 2015

Austria Set to Achieve Small Surplus in Foreign Trade in 2015

Austria should achieve another record in terms of exports in 2015, while foreign trade balance should be slightly positive for the first time since 2007, Austria's Federal Economic Chamber (WKO) head Christoph Leitl said at the opening of the 13th Austrian Exports Day. Leitl estimates the predicted surplus at EUR 0.1 billion (USD 0.1 billion) as imports have been growing at a slower rate than exports. In 2016, foreign trade surplus should be bigger at EUR 0.6 billion.

June 30, 2015

Zumtobel Lights Turns to Profit in FY 2014/15, Plans Higher Dividend

Listed light company Zumtobel turned to profit in FY 2014/15 (ending at the end of April), netting EUR 11.9 million (USD 13.4 million), the company said in a report. In 2013/14, Zumtobel suffered a EUR 4.8 million net loss as restructuring costs affected the bottom line.

June 24, 2015

Austrian Economy to Rebound Properly in 2016

This year Austria’s economy is seen growing merely 0.5 or 0.7 percent, research agencies Wifo and IHS anticipate respectively. In 2016 the rate is seen improving considerably, rising by 1.3 percent (Wifo) or 1.8 percent (IHS forecast) of the GDP. The tax reform is expected to yield first positive effects in 2017 earliest, whereas this year it will cause a downsizing of investments.

June 18, 2015

RBI Eyes Profit in Russia in 2015, May Suffer Loss on Group Level

Listed bank RBI expects its Russian unit to close in the black this year, despite the crisis in the country, but a loss on the group level cannot be ruled out, CEO Karl Sevalda told a GM on Wednesday.

June 17, 2015

Nowotny: Financial Crisis Marked Beginning of Era of Small GDP Growth

The financial crisis that erupted in 2007 likely marked the beginning of an era of low economic growth rates, central bank OeNB governor Ewald Nowotny stated during the inauguration of the 43rd Economic Conference in Vienna on Monday. The latest economic forecast show no acceleration of growth, but rather a slow improvement of the situation.

June 15, 2015

OeNB Raises Austrian Growth Forecast for 2016

Oesterreichische Nationalbank (OeNB) published the growth forecast for 2015 and 2016. This year the growth rate is seen at 0.7 percent, whereas the prediction for next year has been increased to 1.9 percent, from earlier assessments of 1.6 percent. The central bank analysts expect a growth of 1.8 percent for 2017.

June 8, 2015