Friday, 01. August 2014
03. 06. 14. - 15:00
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.
Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.
Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.
German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.
Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.
Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.
Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.
Sausage Surprise As Giant Wurst Is Pinched
Austrian police are hunting crooks who broke open a market stall and stole a 1.5 metre sausage worth over 2,000 EUR in the picture postcard village of St Michael in the region of Lungau.
Multi Coloured UFOs In Formation Over Austria
Austrian officials say they are baffled to explain a UFO sighting in which dozens of people reported seeing between 50 and 100 objects flying in formation.
Priests Furious After Porn Films Shot In Local Parish Church
A furious Austrian Catholic priest has complained to police after discovering a local woman had apparently been using his church as a studio to make porn films.
Two metre snake sends woman motorist fleeing
An Austrian motorist got a shock after noticing something hanging down from under her car – and realising it was a huge two metre snake that had ended up curled around the engine.
The most popular stories –
last 7 days
|Priest Claims Hate Texts Are From Demon Spirit|
|Tragic Death Of Toddler Who Fell Into Outhouse Toilet|
|Ice Tea Worth 20K Stolen And Emptied So Bottles Can Be Sold For 11 GBP|
|Graffiti Artists Asked To Finish Off Vandalism Too Costly To Remove|
|Nurse Fired For Moonlighting As Porn Star|
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.