The UniCredit Bank Austria Business Indicator provides an overview of the current economic situation in Austria.
Strong domestic trends keep Austria's economic growth on track despite mounting export challenges
- The UniCredit Bank Austria Business Indicator reached 1.6 points again in July: a calm and stable growth rate for the Austrian economy in summer 2019
- The gap is widening further between strong domestic demand and the weakness of the global economy
- Trade conflicts and political uncertainties are further dampening the outlook for the Austrian economy in the second half of 2019
- The expected GDP increase for Austria remains unchanged at 1.4 percent for 2019 and 1.3 percent for 2020
- The unemployment rate for 2019/20 is expected to stabilise at 7.4 percent
- Oil prices are having a curbing effect: the average annual inflation for 2019 will fall to a maximum of 1.7 percent
as of 16 August 2019.