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Economic overview

Austrian Economy, March 2017

Austrian economy remains on growth path in 2017

  • Significant revival at the beginning of the year - forecast for GDP growth in 2017 up to 1.8 per cent
  • Inflation of 2.2 per cent in February year-on-year - stabilization expected at 2 per cent in the coming months
  • Retail sales grew by 1.3 per cent in 2016 - more moderate outlook for 2017
  • Labour market has eased thanks to economic growth - the unemployment rate will be determined by the labour supply in 2017
  • Industry off to a strong start to the year - a good augur for sound growth in 2017


As of 16 March 2017.


The information provided by Bank Austria on the Austrian economy also includes current economic forecasts and the most recent data for key indicators, in some cases in the form of charts. The key indicators are supplemented by regular comments, and their impact on the forecast is analysed in a report on the Austrian economy.

To download the current issue in PDF format, click on the symbol to the right.

Bank Austria Business Indicator Austria Business Indicator, March 2017

The Bank Austria Business Indicator provides an overview of the current economic situation in Austria.

Forecast for GDP growth in 2017 up 1.8 per cent 

  • Bank Austria Business Indicator at 2.7 points in February, its highest level since 2011
  • Consumer sentiment currently above the long-term average and at a high level across Europe
  • Optimism in the industrial sector still above average
  • Surprising upturn in growth in 2017 after solid gains in the first quarter; GDP forecast for Austria in 2017 up from 1.6 to 1.8 per cent
  • No further rise in unemployment; 2017 unemployment rate steady at 9.1 per cent thanks to the robust economy
  • Inflation driven by commodity prices; average annual increases of at least 1.8 per cent expected in 2017


as of 15 March 2017.

     The current Bank Austria Business Indicator is now available for download (to the right) in PDF format.

Purchasing Managers' Index Purchasing Managers' Index, February 2017

The Bank Austria Purchasing Managers' Index offers an evaluation of the economic situation of Austrian industry by selected purchasing managers.

Austrian industry still in good shape 

  • Continuation of the industrial recovery that started at the beginning of the year
  • Bank Austria Purchasing Managers' Index standing at 57.2 points in February
  • Only a slight reduction in the pace of growth compared with the previous month: although the increase in new orders and production has slowed down slightly, it is still running at a high level
  • Significant increase in the employment level
  • Cost pressure for Austrian companies: input prices rose higher than output prices for the tenth month in succession
  • Continuing optimism: Austrian industry expecting marked increases in production up to the end of the year 

as of  27 February 2017.

 The current Bank Austria Purchasing Managers' Index is now available for download (to the right) in PDF format.