Fiscal Balance in Austria
Austria - Fiscal BalanceAustria’s economy expanded at a faster clip than previously estimated according to a second reading of national accounts data. Domestic demand was in the driver’s seat in the quarter with private consumption benefiting from easing inflationary pressures, and strong construction investment. Weakness in the industrial sector, however, seemingly spilled over into the second quarter of this year: The manufacturing PMI contracted in April and May, swinging from a robust pace of expansion on average in the first quarter of this year. More positively, consumers turned less pessimistic in May compared to the first quarter, while business sentiment remained elevated in the same two months. Meanwhile, in the political arena, Brigitte Bierlein was appointed interim chancellor on 30 May after former Chancellor Sebastian Kurz’s government was brought down by a vote of no confidence on 27 May.
Austria - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-2.0||-2.7||-1.0||-1.6||-0.8|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||-0.01||0.40 %||Jul 11|
|Exchange Rate||1.13||0.65 %||Jul 11|
|Stock Market||2,992||-1.00 %||Jul 11|
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June 28, 2019
Sentiment among Austrian consumers nosedived from a neutral reading in May to minus 4.0 in June, marking the lowest reading since March 2017 and ending the second quarter on a low.
June 26, 2019
The Austrian manufacturing sector closed the second quarter on bad footing, with the Bank Austria’ Purchasing Managers’ Index (PMI) dropping to 47.5 in June (May: 48.3) and marking the lowest print in 55 months.
June 25, 2019
Industrial output in Austria dropped 1.4% month-on-month in April, down from March’s upwardly revised 0.3% decrease (previously reported: -1.0% month-on-month).
May 30, 2019
On 27 May, Austria entered unchartered political waters; for the first time in the country’s modern history has a chancellor (and his newly-installed technocratic government) been ousted from office by a Parliamentary no-confidence vote.
May 30, 2019
Consumers were neither pessimistic nor optimistic in May, with the consumer confidence index rising to the neutral zero-point mark in May from minus 3 in April.