The UniCredit Bank Austria Business Indicator provides an overview of the current economic situation in Austria.
Economic growth of only 1.6 percent expected in 2019
- Economic sentiment in Austria continues to cool: The UniCredit Bank Austria Business Indicator fell to 2.6 points in January
- The deterioration in the export environment is weighing on the mood of domestic industry and consumers
- Growth forecast for Austria lowered to 1.6 percent in 2019. GDP is expected to rise by 1.5 percent in 2020
- The economic slowdown will halt the decline in the unemployment rate by mid-2019 at the latest
- The lower oil price will reduce pressure on inflation in 2019: 1.8 percent average for the year
- Due to falling inflation and the economic slowdown, there is no prospect of the ECB raising interest rates until the end of 2020
as of 15 February 2019.