Social Democratic (SPÖ) Chancellor Werner Faymann has warned from a Greek Eurozone exit. Faymann said such a scenario would be “very risky” and include “many yet unknown aspects”. Faymann said: “No one can predict where this would lead. The only thing that can be said with certainty is that it would all be very expensive […]
The Austrian economy will manage to grow by nearly one per cent this year, according to the Organisation for Economic Co-operation and Development (OECD). The Paris-based institution announced yesterday (Tues) that the small alpine state’s economy had chances to do 0.8 per cent better in 2012 than in 2011 before achieving an improvement of 1.6 […]
Austrians are cautiously optimistic about the state of their home country’s economy. A new poll by Spectra shows that 49 per cent of residents expect the economy to develop similarly to the past months in the foreseeable future. Around 33 per cent fear a decrease while nine per cent think that the domestic economy will […]
A downturn of the economy could lead to an increase of illicit work in Austria, an expert on the issue has warned. Friedrich Schneider of the Johannes Kepler University Linz (JKU) said yesterday (Tues) he expected illicit employment to decline by 1.1 per cent this year compared to 2011 if the domestic economy stabilised. Schneider […]
Austria benefited the most by the introduction of the Euro, according to an investigation. The German department of internationally operating consulting group McKinsey examined the economic performance of the 17 members of the Eurozone to determine which nation prospered the most. Twelve European Union (EU) states including Austria are the Eurozone’s founding members as they […]
The Austrian economy will grow less strongly than initially expected, according to the Organisation for Economic Co-operation and Development (OECD). OECD research shows that Austria’s gross domestic product (GDP) will rise by 0.6 per cent from 2011 to 2012. Only in May, the organisation announced it expected the GDP to climb by 2.1 per cent. […]
National economies in Asia and South America are of European countries and the United States in their bids to recover substantially from the credit crunch, according to an influential research organisation.The Institute for Economic Research (WIFO) announced today (Mon) that many states in Asia and South America were doing well trying to surpass pre-crisis gross […]
The Austrian economy is reasserting itself, new figures show.Statistik Austria announced today (Fri) the value of exports carried out by Austrian companies increased by 16.5 per cent to 109.2 billion Euros last year compared to 2009. The state agency however pointed out that 2009 figures had shown a 19 per cent decline compared to 2008.Firms […]
More exports and higher activity of the countrys production sector have led to a 0.8 per cent increase of the Austrian gross domestic product (GDP) in the final quarter of last year, a think tank has announced.The Institute for Economic Research (WIFO) said today (Thurs) the GDP was 0.8 per cent higher between October and […]
The Austrian economy is continuing to recover from effects of the global downturn, new figures confirm.The Institute for Economic Research (WIFO), a Viennese think tank, said today (Tues) that the Austrian gross domestic product (GDP) rose by 0.6 per cent in the fourth quarter of 2010 compared to the previous quarter of the same year.WIFO […]