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Economic overview

Austrian Economy, July 2017

Austrian economy on track for strongest growth since 2011

  • Strong first half 2017 - economic forecast for 2017 raised to 2.3 per cent
  • Inflation falls to 1.9 per cent yoy in May - inflation rate expected to stabilise at under 2 per cent in the forthcoming months
  • Retail sales growth only moderate - expansion in 2017 expected to be slower than in the previous year
  • Labour market benefits from economic upturn - unemployment rate in 2017 declines for the first time since 2011
  • Industry off to a strong start to the year - sound growth expected for 2017

 

As of 30 June 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, July 2017

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

Growth forecast for Austria in 2017 increased from 1.8 percent to 2.3 percent

  • UniCredit Bank Austria Business Indicator climbs in June to 3.5 points, the highest figure since March 2011, thanks to the buoyant mood in industry
  • Continuing high rate of growth in the second quarter lifts rise in GDP to an estimated 2.5 percent in the first six months of 2017
  • International momentum promoting investment activity, consumer dynamism remains high - growth forecast for 2017 therefore raised from 1.8 percent to 2.3 percent
  • Unemployment rate drops to 8.7 percent as an annual average for 2017, further easing anticipated in 2018
  • Raw material-related slowdown in inflation in the second half of the year dampening price hikes to 1.8 percent as an annual average for 2017: ECB under no pressure to act

 

as of 17 July 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, June 2017

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

Speed of growth in Austrian industry increases substantially again 

  • UniCredit Bank Austria Purchasing Managers' Index rises to 60.7 points in June, i.e. the second highest level since the start of the surveys in 1998
  • Marked increase in new orders leads to strong expansion of production
  • Industry creating many new jobs
  • Falling oil price slightly eases pressure on prices in June
  • Forecast for industrial growth in 2017 increased to 3.5 percent 

as of  28 June 2017.

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