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Economic overview

Austria Up-to-date, July 2018

Economic growth is stabilizing at a solid level

  • Dynamic first half of 2018 - almost 3% growth in 2018
  • Unemployment rate at 7.8% in June - 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 July 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, July 2018

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

Economic sentiment is stabilising, continued high speed growth in Austria

  • UniCredit Bank Austria Business indicator unchanged in June at 3.9 points
  • Only slight economic weakening since the beginning of the year: Economic growth of more than 3 percent by annual comparison in Q2/2018
  • Stabilisation of the pace of growth in the second half of the year continues to allow the expectation of a GDP increase of 2.8 percent for 2018
  • In spite of increasing risks, economic growth in 2019 remains above the potential at 2 percent
  • Improvement in the labour market is losing momentum: after 7.7 percent in 2018, the unemployment rate will only fall slightly to 7.6 percent in 2019
  • Slightly rising inflation in 2018 to 2.2 percent due to the higher oil price. Minor decline to 2.0 percent expected in 2019
  • In spite of the termination of the ECB asset purchasing programme, monetary policy remains expansionary: possible interest rate rises in autumn 2019 at the earliest

 as of 13 July 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.