Austria Economic Outlook
September 25, 2018Available indicators suggest that momentum in the Austrian economy continues to moderate in quarter-on-quarter terms from the highs recorded between the fourth quarter of 2016 and Q1 2018. Consumer confidence dipped slightly in August on the back of less upbeat sentiment regarding the trajectory of the overall economy and the financial situation of households in the year ahead. Moreover, business sentiment levels for the first two months of Q3 trended below the average reading of the previous quarter, while August’s manufacturing PMI resumed the downward path it has generally followed since the start of the year. The labor market, nevertheless, continues to perform well despite an uptick in July. This comes after a second quarter in which the economy shifted into a lower gear but still grew above the EU-average thanks to strong private consumption gains.
Austria Economic GrowthDespite moderating from recent highs, growth in the economy is expected to remain resilient in the remainder of this year and next. Robust domestic demand spurred by private and public consumption and a strong external sector should buttress economic activity. However, the lack of clear funding plans for the proposed tax reforms by 2020 present a medium-term downside risk. The FocusEconomics panel forecasts GDP will grow 2.9% in 2018 and 2.0% in 2019, which is up 0.1 percentage points from last month’s estimate.
Austria Economy Data
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|Bond Yield||0.71||0.40 %||Oct 12|
|Exchange Rate||1.16||0.65 %||Oct 12|
|Stock Market||3,201||-1.00 %||Oct 12|
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Austria Economic News
September 26, 2018
In September, the headline Purchasing Managers’ Index (PMI)—compiled by Bank Austria and released by IHS Markit—reached a near two-year low, declining to 55.0 from 56.4 in August.
September 25, 2018
Industrial production contracted 0.5% in July over the previous month, matching June’s revised reading (previously reported: -1.5% month-on-month).
August 31, 2018
Consumer confidence moderated in August, with the index dropping to 8 from 9 in July; however, sentiment remained firmly entrenched above the crucial zero-point mark separating optimism from pessimism among consumers.
August 29, 2018
The headline Purchasing Managers’ Index (PMI)—which is compiled by Bank Austria and released by IHS Markit—resumed its general downward trend since the start of the year in August, dropping to 56.4 from 56.8 in July and registering the lowest reading since December 2016.
August 24, 2018
Industrial production fell 1.5% month-on-month in seasonally-adjusted terms in June, ending the second quarter on a weak footing.