Austria Economic Outlook
January 30, 2018Leading indicators suggest that the strong momentum in the Austrian economy likely carried over from Q3 into Q4. The expansion in the third quarter was primarily driven by the external and the manufacturing sectors, and these two sectors seemingly continued their robust performance in the final quarter of the year. In October, exports grew nearly 20% in annual terms, while the manufacturing PMI averaged higher in Q4 than in Q3; the manufacturing PMI hit the highest result in the history of the survey in December on the back of strong growth in new domestic and foreign orders. Moreover, consumer confidence levels rose strongly in December to record the best result in nearly a decade. Business sentiment followed suit, clocking a multi-decade high in the same month. Both sentiment indicators were driven higher by the bright economic outlook for 2018.
Austria Economic GrowthEconomic growth this year should be aided by a tightening labor market as firms continue to hire more staff, which will support private consumption. Household spending is further expected to benefit from the government’s fiscal stimulus and pro-growth plans. Income tax reductions should lead to higher disposable incomes, while corporate tax modifications would increase profitability. There will, however, be a limit to Austria’s room to maneuver, as it needs to comply with EU fiscal rules and has limited fiscal space. FocusEconomics panelists see the economy expanding 2.4% in 2018, which is up 0.1 percentage points from last month’s estimate, and 1.9% in 2019.
Austria Economy Data
5 years of Austria economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.97||0.40 %||Feb 19|
|Exchange Rate||1.24||0.65 %||Feb 19|
|Stock Market||3,409||-1.00 %||Feb 19|
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Austria Economic News
February 1, 2018
The Bank Austria manufacturing Purchasing Managers’ Index (PMI) fell to 61.3 points in January, down from the previous month’s record high of 64.3.
January 25, 2018
Industrial production grew 3.4% in annual terms in November, decelerating from the 4.6% growth rate in October.
January 8, 2018
The consumer confidence index produced by Fessel-GfK came in at 12 points in January, matching the prior month’s reading, which marked the best result since September 2009.
December 29, 2017
The Bank Austria manufacturing Purchasing Managers’ Index (PMI) jumped to 64.3 points in December, up from the previous month’s reading of 61.9 and the highest print in the history of the survey.
December 19, 2017
Industrial production grew 3.7% in annual terms in September, decelerating from a revised 4.2% growth rate in August (previously reported: +4.0% year-on-year).