Country Report Austria 2016

Country report

  • Austria
  • Agriculture,
  • Automotive/Transport,

28th April 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.

 

Disclaimer

The statements made herein are provided solely for general informational purposes and should not be relied upon for any purpose. Please refer to the actual policy or the relevant product or services agreement for the governing terms. Nothing herein should be construed to create any right, obligation or responsibility on the part of Atradius, including any obligation to conduct due diligence of buyers or on your behalf. If Atradius does conduct due diligence on any buyer it is for its own underwriting purposes and not for the benefit of the insured or any other person. Additionally, in no event shall Atradius and its related, affiliated and subsidiary companies be liable for any direct, indirect, special, incidental, or consequential damages arising out of the use of the statements made information herein.