Unemployment in Austria
Austria - UnemploymentData from the second quarter sent mixed signals, after economic growth accelerated in the first quarter. Industrial output faltered in April, with production dropping at the quickest rate in over three-years on a sequential basis. Moreover, the manufacturing PMI fell into marked contractionary territory in the quarter, falling to an over four-year low in June, particularly due to weak demand in the automotive sector. Of particular relevance, Germany is a key export market in this sector and the German car industry is currently suffering from a conflux of factors. On the other hand, retail sales rebounded in April and May amid a tight labor market and relatively stable inflation, after contracting in Q1. This suggests that private consumption remained robust in the quarter despite more downbeat consumer sentiment in June, which concluded the quarter on a slightly sour note.
Austria - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Austria Unemployment Chart
Source: Austrian National Bank.
|Bond Yield||-0.22||0.40 %||Jul 31|
|Exchange Rate||1.11||0.65 %||Jul 31|
|Stock Market||2,985||-1.00 %||Jul 31|
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July 30, 2019
Growth momentum in Austria lost some dynamism as the economy expanded 0.2% quarter-on-quarter in the second quarter, down from the first quarter’s 0.4% expansion.
July 29, 2019
At the start of the third quarter, conditions in the Austrian manufacturing sector worsened as the Bank Austria Purchasing Managers’ Index (PMI) fell to a nearly six-year low of 47.0, down from June’s 47.5, boding poorly for economic momentum in the third quarter.
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).