Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for November
M T W T F S S
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu

Wikimedia Commons/Julien Jorge

Austrian economy falls in line with the European trend

By Matej Klenovský. Translation by Tomáš Buš

Austria is in line with the current economic trend in Europe, according to several economic indicators made public in Austria on Friday.

Analysis of the results of the indicators show that at the moment, there is a moderate decrease, almost stagnation, in the price levels. Meanwhile, industrial production is slowing down at a significant rate, as it is in many other European countries.

The results of the Austrian Industrial Production indicator show that production has decreased in March by 1.8% in comparison with February, the second month in a row where it has dropped.

The greatest decrease was recorded in capital goods (-4.5%) and durable goods (-4.7%) whilst the situation in the construction sector has also worsened for the second month in a row. The construction sector, being probably the most cyclical out of all sectors, represents an important part of an economy and its development is exceptionally dependant on the current economic state of a country. As a result, it is often a useful predicting indicator for forecasting a country's economic development.

Meanwhile, the Austrian Central Statistical Office also discussed a change in the Production Price Index this Friday, which measures the average change over time in the selling prices of the output from domestic producers. The indicator decreased by 1.2% in comparison with April 2013, although there was no change in comparison with March 2014.

A decrease in the energy prices (-3.8%) and intermediate goods (-1.3%) is responsible for these lower prices. On the other hand, the prices of investment goods rose year-on-year by 0.6%; the increase in the price of machinery (+1.5%) and motor vehicles (+1.1%) is responsible for this rise.

The greatest decrease within a month was recorded in the price of fats and oils from plants and animals, which sank by 16.2% in April. This significant drop contributed to the fact that the price of consumer goods increased only by 0.2%.

Finally, one of the most popular indicators is Bank Austria Manufacturing PMI, which is based on the survey of over 300 industrial companies. The index has for the ninth month in a row now shown expansion (over 50 points). However, the tempo of the growth is consistently decreasing as of the beginning of 2014, when the level of the index was recorded to be over 54 points.

The last records show a decrease in the indicator from 51.4 points in April to 50.9 points in May, which has also been the monthly minimum for the past nine months. According to most of the surveyed subjects, the reason behind the lower total results lies in the slowing down of the sub-index New Orders, which is responsible for the lower demand among customers as well as greater competition.

A lower interest from the domestic market also plays a significant role in the decrease of the total demand. Meanwhile, the growing demand from abroad has led to a mild rise in exports.

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!


Cosmo and Nanu
ORF Watch

Tag cloud:
recorded  industrial  slowing  goods  decrease  significant  indicators  European  domestic  Austrian  price  comparison  index  total  greatest  survey  construction  points  production  Austria

Latest News

 

Mad About Mammoths At Vienna Museum
A unique exhibition in the Austrian capital Vienna has proved a massive hit after bringing together for the first time some of the most famous frozen woolly mammoth remains.

Controversy Over Advert For Fucking Hell Beer
An Austrian political party has defended a decision to promote a local beer named after the village of Fucking.

Luigi Restaurant Cooks Up Delicious Delights For Winter Season
Brothers Luigi and Leo Doci who own the renowned Luigi restaurant chain will be cooking up a storm in Semmering this winter.

Church Porn Star In Court
A Polish-born woman who made a video of herself masturbating in church is facing six months in jail after a viewer called police when he recognised the woman.

Hugh Grant Cuddles Lamb On Animal Farm With Mrs Glock
Hugh Grant led a star-studded turnout at Austria's animal farm project which unveiled its Christmas market this week.

Cheating Wife Buries Hubby Alive For New Lover
A woman who married her sisterís fiance and then attacked him with a knife before burying him alive so she could be with her new lover is facing life in jail.

Spate of Crimes throughout Vienna and Lower Austria Solved
Four men have been arrested after committing 113 break-ins, 21 thefts and causing at least 260,000 Euros worth of damage.

Dad Punished Child, 2, With Boiling Hot Shower
A two-year-old girl is in an artificial coma and fighting for her life after her father threw her into a scalding hot shower leaving her with severe burns at the family home in the Austrian capital Vienna.

Police And Firemen Get Cold Turkey
Flipping the bird was given a new meaning in Austria this week when a truck filled with plucked turkeys overturned, closing a busy motorway in the process.

Hotel Gets A Penthouse Without The Building Stress
A hotel in the southern Austrian city of Graz has gone upmarket with a five-star penthouse suite by simply having it lifted by a crane onto the top floor.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.

Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.


Austrian Zimmers