Current Account in Austria
Austria - Current Account (billions of Euros)The economic impact of the war in Ukraine will increasingly be felt during Q2; Austrian banks have close ties with Russia, which is also an important market for the country’s industrial exports. The rate of growth in industrial production already began to slow in March and is likely to weaken further during Q2, as the war has both exacerbated supply chain constraints and undermined demand. Although April’s manufacturing PMI showed both a robust improvement in operating conditions and positive business confidence, this is unlikely to last. Moreover, rising commodity prices and uncertainty arising from the war are weighing heavily on consumer sentiment, which will be negatively affecting household spending. Meanwhile, in a May report, the European Commission highlighted the public finances, the labor market and an over-reliance on fossil fuels as key areas for the government to address.
Austria - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||5.9||9.7||5.7||9.0||10.5|
5 years of economic forecasts for more than 30 economic indicators.
Austria Current Account (EUR bn) Chart
Source: Austrian National Bank and FocusEconomics calculations.
|Bond Yield||0.03||0.40 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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August 29, 2022
The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) dropped from 51.7 in July to 48.8 in August.
August 10, 2022
Industrial output dropped 2.1% in month-on-month seasonally-adjusted terms in June, which contrasted May's 0.9% increase.
July 29, 2022
Austria’s economy expanded 0.5% quarter on quarter in Q2, down from the 1.5% expansion logged in the first quarter.
July 28, 2022
The UniCredit Bank Austria Manufacturing Purchasing Managers’ Index (PMI) rose from a near two-year low of 51.2 in June to 51.7 in July.
July 27, 2022
Consumer confidence fell to minus 33.0 in July from June's minus 24.0.