Austria Economic Outlook
January 29, 2019Economic growth should largely have kept pace in Q4 2018, as the number of unfilled vacancies rose over the previous quarter while unemployment continued to drop through November. However, downside risks have increased as the industrial sector still suffers from disruptions to the automotive sector, with output of consumer durables dropping in October-November: New car registrations contracted at a faster pace in Q4 compared to the third quarter. Furthermore, the manufacturing PMI averaged lower in Q4 than in the prior quarter, suggesting that the sector performed less strongly in the final quarter of 2018. Looking ahead, the industrial sector likely got off to a weak start to 2019 as production expectations for the next three months moderated strongly in December. Although consumer sentiment remained stable in the same month, consumers’ judgement on the Austrian economy in the year ahead also became less upbeat.
Austria Economic GrowthAlthough expected to moderate, economic growth should remain robust and above the Eurozone average this year. Domestic demand will continue to buttress the economy, with a pick-up in government spending and resilient growth in private expenditure and fixed investment. However, the tight labor market could restrain economic growth as businesses find it increasingly difficult to hire suitable personnel. Lingering trade tensions pose a further risk. The Met the why particular panel forecasts GDP will grow 1.9% in 2019, which is down 0.1 percentage points from last month’s estimate, and 1.6% in 2020.
Austria Economy Data
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|Bond Yield||0.41||0.11 %||Jan 30|
|Exchange Rate||1.14||0.65 %||Jan 30|
|Stock Market||3,000||-1.00 %||Jan 30|
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Austria Economic News
March 27, 2019
At the close of the first quarter, business conditions in Austria’s manufacturing sector stagnated.
March 25, 2019
Industrial output expanded a strong 1.9% month-on-month in January, up from December’s strongly revised 1.3% expansion (previously reported: -0.2% month-on-month).
March 1, 2019
The economy grew at a slightly quicker pace in the fourth quarter than previously estimated, as highlighted by a second reading of national accounts data.
February 26, 2019
Business conditions in the Austrian manufacturing sector improved at the slowest pace in over three years in February, with the Bank Austria Purchasing Managers’ Index (PMI) dropping from 52.7 in January to 51.8.
February 25, 2019
Industrial production in Austria contracted 0.2% over the prior month in December, up from a revised 1.1% drop in November (previously reported: -2.4% month-on-month).