Austria Up-to-date

The information provided by Bank Austria in our publication “Austria Up-to-date” 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 this report.

Waiting for the spring awakening

  • Through the winter better than expected
  • Only minor impact of weak economy on labor market
  • Inflation declines in the course of 2023, but we raised our forecast
  • Two more small upward interest rate steps expected from the ECB by summer

As of May 2023.

Focus Austria

"Focus Austria" - Review and outlook 2022/2023 offers a comprehensive analysis of the economic trends in Austria with special consideration of structural conditions. The publication provides an overview of the past year and offers an outlook on the developments expected in the current year and the following year. In addition to the current economic situation, the Austrian business location is assessed.

Step by step into recovery

  • Austria's economy in 2022 with strongest growth since 1974 - but economy slows down sharply in second half of year
  • Slight slowdown at the turn of the year 2022/23 - moderate recovery expected from spring 2023 onward 
  • Unemployment rate down to 6.3 percent in 2022 - Stable development in 2023/24 despite weak economy
  • Inflation acceleration in 2022 due to energy prices - Only hesitant decline despite falling energy prices
  • Tightening of monetary policy in the euro zone in 2022 - Further interest rate hikes by mid-2023, trend reversal not expected until 2024 
  • Budget deficit and total debt down in 2022 - Economic slowdown, rise in interest rates and inflation compensation slow down further decline

You can find the current issue on the right under Downloads.

As of April 2023.