Austria’s Economy Declines Due to Weak Trade and Industry
Austria’s economy has recorded a fifth consecutive quarter of decline due to ongoing weaknesses in the industrial sector and wholesale trade.
Vienna Announces New Steps to Fight Youth Unemployment
The measures include creating more educational places for immigrant teenagers and increasing support for companies offering apprenticeships.
KSV1870 Warns of Rising Personal Bankruptcies Due to Overspending
Their latest report highlights that individuals overestimating their financial abilities is the most common cause of these financial failures.
Unemployment Rises in August
According to data released by the Ministry of Labor on Monday, the number of unemployed individuals and AMS training participants has risen by 31,497 compared to the same period last year.
Austrian Inflation Falls to Lowest Level Since April 2021
In July, inflation was 2.9%, with August prices estimated to have fallen by 0.2%, partly due to lower fuel and heating oil costs.
Austrian Consumer Spending Shifts to Gaming, Bikes, Beauty, Pets
Spending on in-game transactions in Austria has jumped 771% since 2014, while the bicycle market grew by 415%.
Chancellor Promises Tax Cuts if Re-Elected
Karl Nehammer has unveiled plans to lower the basic tax rate from 20% to 15% and abolish the 48% tax bracket for higher earners.
Vienna Retail Sales Fall 2.2% Amid Inflation and Heatwave
Shops in the city have seen nearly €1.5 billion less in turnover compared to the same period last year.
Record Low in Apprenticeship Providers as Labor Shortages Worsen
Austria experienced a significant decline in the number of companies offering apprenticeships in 2023, hitting a new long-term low of 27,083 businesses.
Vienna’s Airport Profit Up By 31% in First half 2024
In July 2024, Vienna Airport recorded its highest monthly passenger volume in history, with over 3.3 million travelers passing through its gates