The UniCredit Bank Austria Business Indicator provides an overview of the current economic situation in Austria.
Recession running its course - recovery beckons
- The UniCredit Bank Austria Business Indicator climbs to 1.5 points in March, moving into positive range for first time in a year
- Spring heralds start of economic turnaround, following further decline in GDP in Q1 2021
- Global upturn supported by recovery in consumer spending and by investment activity, which will drive the upturn from H2 onwards
- "A year of recovery from the coronavirus crisis": Economic growth expected to accelerate to 5.7 percent in 2022, following GDP increase of 2.6 percent in 2021
- Inflation set to increase temporarily to more than 2.5 percent from late summer due to raw material prices and increased demand for certain services; no long-term risk of high inflation
- Gradual improvement in labor market expected to see unemployment rate drop to an average of 9.2 percent in 2021 and 8.4 percent in 2022
as of 15 April 2021.