About Business Indicator
The UniCredit Bank Austria Business Indicator seeks to assess the economic climate in Austria based on a range of sentiment and leading indicators. The goal is to provide a meaningful measure of the current economic situation and immediate future developments well in advance – approximately one quarter before the release of official GDP figures.
Improvement in economic sentiment at the start of the second half of the year
“The UniCredit Bank Austria Business Indicator rose to minus 0.8 points in July, reaching its highest level since the turmoil following the U.S. attack on Iran and the blockade of the Strait of Hormuz”, says UniCredit Bank Austria Chief Economist Stefan Bruckbauer, adding: “The significant improvement in sentiment compared to the previous month was felt across all economic sectors. The improvement was particularly strong in industry, but the service sector also showed a noticeable recovery.”
- The UniCredit Bank Austria Business Indicator rose to minus 0.8 points in July, reaching its highest level since the start of the Iran conflict
- Improved sentiment across all economic sectors, yet pessimism continues to prevail
- Following stagnation in the second quarter: More favorable outlook for the second half of the year, but ongoing geopolitical tensions are limiting the economic recovery
- Weak economic growth of 0.8 percent for 2026 as a whole is likely to result in a slight rise in the unemployment rate to 7.5 percent on an annual average
- An acceleration in GDP growth to 1.2 percent in 2027 should lead to some easing in the labor market
- Energy prices are keeping inflationary pressure high; inflation of 3.2 percent is still expected for 2026 and 2.5 percent for 2027
- The ECB is expected to raise key interest rates again by 25 basis points in September
UniCredit Bank Austria Business Indicator (PDF)
UniCredit Bank Austria Business Indicator – Computation method (PDF)
as of August, 2026
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It is an analysis based on publicly available economic data. Despite careful research and the use of reliable sources, no responsibility can be taken for completeness, correctness, timeliness and accuracy.
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