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Economic overview

Austria Up-to-date, August 2018

Domestic demand drives solid economic growth

  • Dynamic first half of 2018 - almost 3% growth in 2018
  • Unemployment rate at 7.8% in July - only moderate improvement in sight
  • Inflation picks up slightly - inflation will rise to 2.2% in 2018
  • No end to negative interest rates until 2020

 

As of August 2018.

 

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, August 2018

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

Domestic demand supports solid growth in Austria

  • UniCredit Bank Austria Business Indicator starts the third quarter of 2018 at 3.6 points: despite a decline after the all-time high at the turn of the year, the indicator remains clearly above the long-term average
  • Consumption and investments stabilize the pace of growth at over 2 percent
  • Effects of the Turkish crisis manageable, as less than 0.5 percent of Austrian demand depends on Turkey
  • Despite higher global risks: economic growth expected to reach 2 percent in 2019, after 2.8 percent in 2018
  • Improvement in the labor market is stagnating: after 7.7 percent in 2018, the unemployment rate will fall only slightly to 7.6 percent in 2019
  • Inflation since the middle of the year is only temporary: average annual inflation expected to rise to 2.2 percent in 2018, decline to 2.0 percent in 2019

 as of 16 August 2018.

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

Purchasing Managers' Index Purchasing Managers' Index, July 2018

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

Industry growth stabilises in Austria, however, risks still remain from global politics

  • The UniCredit Bank Austria Purchasing Managers' Index rose again slightly to 56.8 points in July for the first time in six months
  • Production output increase picking up for the second month in a row; job growth accelerating
  • Increased cost burden for domestic industrial operations due to sharp increase in input prices
  • New business increases retreat: Global trade uncertainty halts two year expansion in new export orders
  • Austrian industry expecting further substantial medium-term increases, but optimism noticeably lower than at start of 2018

as of  27 July 2018.

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