Country Report Austria 2016

Country report

  • Østrig
  • Landbrug,
  • Biler/Transport,

28 Apr 2016

In 2015, Austrian business insolvencies decreased by 5%. However, in 2016 the pace of corporate insolvency decrease is expected to slow down to just 2%.

2016_CR_WE_Austria_key_indicators
2016_CR_WE_Austria_industries_performance

The insolvency environment

Pace of corporate insolvencies decrease expected to slow down in 2016

2016_CR_WE_Austria_business_insolvencies

Austrian business insolvencies decreased by 5% in 2015. However, this positive trend is expected to slow down in 2016, with insolvencies forecast to decline just 2%.

Economic situation

Higher growth expected in 2016

2016_CR_WE_Austria_Real_GDP

The Austrian economy recorded modest growth of 0.7% in 2015, sustained by rising investments and exports. With an increase of only 0.2%, private consumption growth remained subdued hampered by increased unemployment (9.1%) and lower wage growth.

In 2016, GDP growth is expected to accelerate to 1.7%, as domestic consumption is expected to pick up again.

2016_CR_WE_Austria_Real_private_consumption

Private consumption is forecast to increase 1.1% due to an income tax reform in place since January 2016 and slightly decreasing unemployment. Investments are also expected to pick up this year.

 

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