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.
Further slight improvement in economic momentum
“The UniCredit Bank Austria Economic Indicator rose to -0.7 points in August, reaching its highest level once again since the start of the U.S. attack on Iran and the blockade of the Strait of Hormuz,” says Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria, adding: “Sentiment continued to improve, albeit modestly, in industry, construction, among consumers, and in the export sector. However, rising inflation expectations caused sentiment in the services sector to decline somewhat again.”
- The UniCredit Bank Austria Economic Indicator rose to -0.7 points in August, improving slightly compared with July
- Sentiment improved in industry, construction, among consumers and in exports, though not in the services sector, which continues to be affected by elevated inflation
- Following a slight contraction in the second quarter, prospects for the second half of the year have improved; however, ongoing geopolitical tensions continue to limit the pace of economic recovery
- Weak economic growth of 0.8% in 2026 is expected to result in a slight increase in the average unemployment rate to 7.5%
- GDP growth is expected to accelerate to 1.2% in 2027, leading to a modest improvement in labor market conditions
- Continued tensions in the Middle East are expected to contribute to higher inflation in 2027. As a result, the inflation forecast has been revised upward from 2.5% to 2.8%, and the ECB is expected to increase interest rates again to 2.75% in December
UniCredit Bank Austria Business Indicator (PDF)
UniCredit Bank Austria Business Indicator – Computation method (PDF)
as of September, 2026
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.
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