Austria Economic Outlook
June 26, 2018
Economic momentum broadly held up at the start of 2018, despite slowing marginally from the previous quarter. Robust domestic demand, which was supported by elevated consumer confidence and a low unemployment rate, underpinned the solid performance in Q1. Available data for the second quarter, however, suggests a slower pace of growth is setting in. Consumer and business confidence both came down from recent highs in May, with consumer sentiment decreasing for the first time in over a year and a half. Moreover, a sizeable contraction in retail sales in April could translate into weaker household spending. Given the slowdown in exports in Q1, foreign demand has already started easing and easing European growth, global trade skirmishes and higher oil prices will likely weigh on the external sector.Austria Economic Growth
The economic outlook remains favorable, underscored by strong domestic demand. A tighter labor market should continue to push up wages and, consequently, households’ disposable income. In addition, the government’s proposed tax reforms for 2019 should also boost consumer spending. Our panel forecasts GDP will grow 2.8% in 2018, which is up 0.1 percentage points from last month’s estimate. For 2019, the panel expects growth of 2.0%.Austria Economy Data
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Austria Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.56 | 0.40 % | Jul 17 |
| Exchange Rate | 1.17 | 0.65 % | Jul 17 |
| Stock Market | 3,283 | -1.00 % | Jul 17 |
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Austria Economic News
Austria: Consumer confidence drops to seven-month low in June
June 28, 2018
Consumer confidence dropped from 11 in May to 9 in June, marking the lowest reading since October of last year, and reflecting a slightly less upbeat view on the general economic situation in Austria.
Austria: PMI falls for the fifth time this year in June
June 27, 2018
The first half of this year has been a period of moderation in the Austrian manufacturing sector, as the manufacturing Purchasing Managers’ Index (PMI)—compiled by Bank Austria and released by IHS Market—fell for the fifth time in six months in June.
Austria: Industrial production rebounds in April
June 25, 2018
Industrial production expanded 1.0% month-on-month in April in seasonally-adjusted terms, contrasting the prior month’s revised 0.5% contraction (previously reported: -1.6% month-on-month).
Austria: Detailed breakdown of economic activity confirms marginal slowdown in Q1
May 30, 2018
The Austrian Institute of Economic Research (WIFO) released a detailed breakdown of national accounts data on 30 May, which confirmed that the economy slowed marginally from the fourth quarter; however, activity in the Austrian economy remained strong.
Austria: Consumer confidence moderates from recent highs in May
May 30, 2018
Consumer sentiment moderated in May, with the sentiment index easing to 11 from the over one-decade high of 13 sustained over the prior three months.
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