Economy stable, but growth signals still lacking
“The UniCredit Bank Austria Business Indicator fell only minimally compared to the previous month to minus 2.1 points, the best value of the current year apart from May,” says UniCredit Bank Austria Chief Economist Stefan Bruckbauer, adding: “Although the Austrian economy has left the recession behind, it has only entered a stagnation phase without any clear signs of growth. In the course of the second half of the year, however, the economy should be able to overcome the stagnation thanks to stimuli from domestic demand, but a strong upward trend is not yet apparent in view of the existing challenges.”
- Minimal decline in the UniCredit Bank Austria Business Indicator in June to minus 2.1 points
- Deteriorating sentiment in the service sector and in domestic industry despite slightly more favorable export environment
- After economic stabilization in 2025, domestic demand should enable moderate economic growth of 1.1 per cent in 2026
- 30 per cent tariff on Austrian exports to the USA would reduce GDP by 0.4 percentage points and cost 15,000 jobs
- The rise in the unemployment rate will slow in the second half of the year and come to an end in 2026: After 7.5 per cent in 2025, an unemployment rate of 7.5 per cent is also expected in 2026
- Services inflation remains stubborn: inflation in Austria will remain at the previous year's level of 2.9 per cent on average in 2025. A decline to 2.1 per cent is only in sight for 2026
UniCredit Bank Austria Business Indicator (PDF)
UniCredit Bank Austria Business Indicator – Computation method (PDF)
as of July, 2025
About UniCredit Bank Austria Business Indicator
The UniCredit Bank Austria Business Indicator provides an overview of the current economic situation in Austria.
These publications do not constitute investment advice, investment recommendations, marketing communications, or financial analysis. In particular, they are not an offer or solicitation to buy or sell securities and do not constitute a solicitation to make such an offer. They are intended solely as initial information and are no substitute for advice based on the individual circumstances and knowledge of the investor.
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.
Any investment in securities involves risks. The value of the investment and the income from it may fluctuate suddenly and substantially and therefore cannot be guaranteed. There is a possibility that the investor will not get back the full amount invested, particularly if the investment is held for only a short time. In some circumstances, a total loss is also possible.
Possible (return) payments from the product may not protect investors against inflation risk. There can be no assurance, therefore, that the purchasing power of the capital invested will not be affected by a general increase in the prices of consumer goods. Figures and information on performance refer to the past and past performance is not a reliable indicator of future results.
Only in the context of an investment advisory service can UniCredit Bank Austria AG take into account the personal circumstances of the customer (investment objectives, experience and knowledge, risk appetite, financial circumstances and financial loss tolerance) and carry out a product-specific suitability test.
We would like to point out that the tax treatment depends on the personal or company circumstances of the investor and that the information on tax advantages is provided on the basis of the current legal situation, which may be subject to future changes and for which no information can be given as to whether they will be continued.
