Austria Economic Outlook
December 20, 2018In the third quarter the wind blew slightly less strongly in the sails of the Austrian economy than previously estimated. A second reading of national accounts data showed that the economy expanded at the same pace as in Q2 and matched the EU28 average. Growth in the economy was underpinned by both domestic demand and the external sector. Domestic demand benefited from strong private consumption and fixed investment growth—although troubles in the automotive sector relating to the new emission regulations slightly dragged on household consumption—while the external sector was supported by robust foreign demand and a moderation in import growth. Meanwhile, data from the fourth quarter has been largely solid so far. The manufacturing PMI increased in November on stronger growth in output, new orders and unemployment, while consumer sentiment remained elevated in the same month. Less positively, business confidence fell to a multi-year low on worries over an economic slowdown and the health of the automotive sector.
Austria Economic GrowthEconomic growth should remain robust in 2019, although the pace of expansion is expected to moderate. Public and private consumption are likely to buttress the domestic economy, with households benefiting from a tight labor market and higher wages. On the other hand, labor shortages could limit economic growth and lingering global trade tensions pose a further downside risk. The FocusEconomics panel forecasts GDP will grow 2.0% in 2019, which is unchanged from last month’s estimate, and 1.7% in 2020.
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|Bond Yield||0.44||0.40 %||Jan 16|
|Exchange Rate||1.14||0.65 %||Jan 16|
|Stock Market||2,929||-1.00 %||Jan 16|
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Austria Economic News
December 21, 2018
Output in Austria’s industrial sector increased 1.2% over the previous month in October, up from a revised 0.8% expansion in September (previously reported: +0.2% month-on-month).
November 30, 2018
Consumer confidence in Austria was stable at 9 in November and remained handsomely above the crucial zero-point mark separating optimism from pessimism. Although the headline figure remained unchanged, some changes occurred in the underlying components.
Austria: Business conditions improve at a faster clip in November, but concerns drive outlook sentiment down
November 28, 2018
The Bank Austria Purchasing Managers’ Index (PMI), released by IHS Markit, rose from a two-year low of 53.8 in October to 54.9 in November.
November 23, 2018
Industrial production increased 0.2% in September over the prior month, contrasting August’s revised 1.2% drop (previously reported: -1.4% month-on-month), driven by the energy sector and robust growth in capital goods and consumer durables. Compared to the same month a year ago, industrial output expanded 2.6% in September on a working-day adjusted basis, slightly down from August’s 2.8% increase.
October 31, 2018
Sentiment among consumers eased slightly in October, with the index dipping to 9 from 10 in September.