Wifo: Austrian Economy Could Gain Momentum

Over the next months Austria’s economy could gain some own momentum, economic research institute Wifo believes, although only some lead indicators point to a continuous improvement, while others indicate a continuation of the market slump, Wifo experts explain.

May 12, 2016

Austria's Economy Seen Growing 1.5 Pct in 2016, Unemployment Rate at 9.5 Pct

The Austrian economy will likely grow by 1.5 percent y/y in 2016, above the 2015 growth rate of 0.9 percent, Bank Austria chief economist Stefan Bruckbauer told journalists in Vienna at the presentation of the bank's economic analysis. All federal regions should show growth, according to the bank's experts.

May 9, 2016

Austria's GDP Seen Growing by 1.2 Pct in 2016, 1.4 Pct in 2017 - IMF

The Austrian economy will likely grow by 1.2 percent in 2016 and by 1.4 percent in 2017, the IMF said in the latest set of forecasts World Economic Outlook.

April 12, 2016

OeNB - Inflation to Drop Further this Year

This year the rate of inflation in Austria will drop even further due to the low oil price. However, in 2017 it should grow substantially. The reason for the growth is the "base effect” expected to start in August, after 12 months cheap oil won't be effecting growth of prices any more.

April 5, 2016

Austria's PMI Hits Best Value in Two Years in Q1 - Bank Austria

The Austrian PMI hit the best quarterly value in two years, as the March increase to 52.8 points put the average Q1 2016 level at 52 points, Bank Austria said.

March 31, 2016

Austrian Industry Dejected

The biggest mood slump in Austria’s industry since the financial crisis in 2008 has caused a reduction of Bank Austria's economic indicator from zero to minus 0.1 points, in spite of improved consumer sentiments. The bank’s forecast for the GDP growth remains unchanged at 1.5 percent.

March 15, 2016

AMS: Unemployment Seen Staying High This Year

Austria is unlikely to see any easing of the current record-high unemployment rate this year, despite the expected 1.7percent GDP growth, labour market service AMS head Johannes Kopf said told broadcaster ORF after the publication of February unemployment data which showed an increase to 10.4 percent in nationwide jobless rate.

March 1, 2016

Wienerberger Bricks Turns to EUR 36.5 Mln Net Profit in 2015

Listed construction materials group Wiernerberger has finally managed to turn to profit and posted EUR 36.5 million attributable positive net result for 2015, the company said.

February 24, 2016

UniCredit Final Restructuring Program on Bank Austria's Retail Business

UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.

December 15, 2015

OVAG to Merge With Another Bank?

A merger or collaboration of some sort with another bank may be in sight for Austrian bank group Osterreichische Volksbank AG (ÖVAG), Standard daily reports in its Tuesday issue. US investment bank Lazard is on lookout for offers.

September 9, 2014