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Economic overview

Austrian Economy, October 2017

Following a strong first half of 2017, GDP forecast increased to 3 per cent

  • Acceleration of growth in 2Q 2017 - on track for strongest growth for 10 years
  • Inflation up to 2.1 per cent yoy in August - inflation rate expected to stabilise at around 2 per cent in 2017
  • More buoyant retail sales growth in summer - expansion in 2017 expected to be slightly slower than in the previous year
  • Labour market benefits from economic upturn - unemployment rate in 2017 declines for the first time since 2011
  • Good budget performance in 2017 - robust economic growth helps to push the deficit under 1 per cent of GDP in 2017

 

As of 2 October 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.

UniCredit Bank Austria Business Indicator Austria Business Indicator, October 2017

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

Extended economic upswing

  • A further increase in the UniCredit Bank Austria Business Indicator to 3.8 points in September indicates a sustained high rate of growth in the Austrian economy
  • The highest GDP increase for ten years can be expected: Economic growth increasing to 3% during 2017
  • Economic growth in Austria, at over 2% in 2018, is again higher than in the Eurozone or in Germany
  • Unemployment rate falls to 8.6% in 2017 and further to 8.4% in 2018
  • Inflation at 2% in 2017, higher than in the Eurozone for the ninth year in succession

 as of 16 October 2017.

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

Purchasing Managers' Index Purchasing Managers' Index, October 2017

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

Austrian industry still on top form, lower pace after the summer high

  • Boom in Austrian industry still continuing, longest upward phase for twenty years
  • With 59.4 points in October, the UniCredit Bank Austria Purchasing Managers’ Index again indicates continued high growth
  • Lower increase in new business curbs production expansion
  • Growth in employment gathers pace again in October
  • Accelerated rise in input prices leads to a further cost burden for companies
  • High growth expectations among production companies for the next twelve months, but the speed of upturn in industry in autumn and winter will be slightly lower than in the summer months

as of  30 October 2017.

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