Austrian economic news in a flash - 15.10

(The most important economic news in Austria) 


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Austria's annual inflation rate rose to 1.9% in September from 1.7% in August due to higher fuel and home costs. On a monthly comparison, the prices rose 0.4%, Statistik Austria said. The eurozone harmonised index stood at 1.8% in September.
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Austrian Post AG and its Swiss counterpart revealed that they plan to merge their foreign advertising material distribution businesses. The joint venture,  to be 65%-owned by Austrian Post AG, will be established in Austria. It will unit Austrian Post AG's meiller direct GmbH based in Germany with Swiss Post Solutions, also located in Germany. Closing of the transaction, which will have an impact on 1,000 workers of the Austrian company, is seen by the end of 2010.
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Bank Austria's economic indicator grew by 0.1 to 3.4 points in September. This is the highest level reached since the end of 2007. The analysts project that the Austrian economy will continue to grow considerably by the end of the year. Bank Austria said it projects 1.9% growth in the country's GDP for 2010 and 1.7% for 2011. For the next year, the economists expect that Austria's firms will be able to benefit more strongly from the international demand than other European countries.
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Russian billionaire Oleg Deripaska will have time to November 5 to decide whether to buy back a stake of 25% in Austrian builder Strabag, a company's spokesperson told APA news agency. The deadline for returning as a Strabag shareholder expired on October 15.
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Austria's construction cost index rose 3.2% in annual and 0.3% in monthly terms to 120.1 points in September, Statistik Austria reported.