Austria Economic Outlook
September 27, 2016The Austrian economy is likely to have remained sluggish in the third quarter, following a disappointing second quarter where GDP grew 0.3% over the previous period. High frequency indicators almost all trended downwards in the first two months of the quarter, amid heightened uncertainty following the Brexit vote. In other news, the Austrian presidential election re-run had to be rescheduled for 4 December because the logistical challenge posed by replacing faulty postal ballots meant organizers would not be able to hold the vote on 2 October, as originally planned. The initial vote in May saw the Green party candidate Alexander van der Bellen narrowly beat the far-right FPÖ candidate Norbert Hofer. Following a formal complaint by the FPÖ, the constitutional court ordered the re-run on 1 July after it found a number of procedural irregularities in the vote.
Austria Economy Data
5 years of Austria economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.19||-12.30 %||Oct 20|
|Exchange Rate||1.09||-0.38 %||Oct 20|
|Stock Market||2,466||0.81 %||Oct 20|
Austria Economic Growth
September 27, 2016After starting out the year on a solid footing, the dampening effect of Brexit is adding to already sluggish growth dynamics in Austrian economy. Domestic demand should nevertheless remain robust enough to carry growth in the near term. Our panelists see the economy expanding 1.4% in 2016, which is unchanged from last month’s projection. For 2017, the panel forecasts growth of 1.3%.
Austria Economic News
September 29, 2016
In September, the Bank Austria Manufacturing Purchasing Managers’ Index (PMI) came in at 53.5, which was up from August’s 52.1.
September 23, 2016
In July, industrial production fell 0.6% over the previous month in seasonally-adjusted terms.
August 31, 2016
The consumer confidence index elaborated by Fessel-GfK deteriorated slightly in August, ending three consecutive months of improvement.
August 30, 2016
In August, the manufacturing Purchasing Managers’ Index (PMI) produced by Bank Austria came in at 52.1, which was down from July’s 53.4.
August 29, 2016
The economy lost steam in the second quarter of 2016, according to the revised data released by the Austrian Institute of Economic Research (WIFO) on 29 August.