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Energy, interest rates, uncertainties: Where is Europe headed?

  • 16.01.2025
  • Event Review
Mag. Stefan Bruckbauer, Chefökonom der UniCredit Bank Austria, hält einen Vortrag vor einem Publikum an der FH Kufstein Tirol. Im Hintergrund ist eine Leinwand mit Präsentationsinhalten zu sehen. | © FH Kufstein Tirol
© FH Kufstein Tirol

Exciting facts, optimistic prospects and political developments were presented by Mag. Stefan Bruckbauer.

How will Europe's economy develop in 2025? Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria, addressed this question in a fascinating lecture at the University of Applied Sciences Kufstein Tirol.

On January 15, 2025, the Kufstein University of Applied Sciences, in cooperation with the Kufstein Lions Club, invited guests to a high-profile lecture with Mag. Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria, as part of the Kufstein Management Forum. Under the title Will growth return to Europe in 2025? the renowned expert shed light on current economic developments and ventured a look into the future.

ENERGY CRISIS, INTEREST RATES AND UNCERTAINTIES

The year 2024 was marked by economic uncertainties. Bruckbauer explained how energy price shocks, a weakening global industrial cycle and rising interest rates weighed on the European economy. Economic policy uncertainty remained high, especially in Europe, while supply chains have largely normalized after pandemic-related bottlenecks.

This development also affected construction and industrial production. In particular, Germany and Austria recorded weak production figures and a decline in incoming orders. Despite a stabilization in the global industry, the recovery trends remained modest overall.

Gruppenfoto auf einer Bühne: Studiengangsleiter Prof. (FH) PD Dr. Christoph Hauser, Mag. Stefan Bruckbauer und der Präsident des Lions Club Kufstein, Volker Steindl, stehen nebeneinander. Der Hintergrund ist in warmen Farbtönen beleuchtet. | © FH Kufstein Tirol
© FH Kufstein Tirol

GLOBAL INFLUENCES AND DEVELOPMENTS

However, Bruckbauer also pointed out the existing risks. In addition to geopolitical uncertainties and the reaction of households to the loss of real income, the structural challenges for the euro area remain considerable. Europe continues to struggle with weak competitiveness compared to the US, which is experiencing above-average growth thanks to strong technology and financial sectors.

Compared to the European economy, the situation in the US appears much more dynamic. The US market continues to benefit from strong economic policy stimuli and positive consumer sentiment. However, rising debt also poses a risk there. In China, a stabilization is expected, which is mainly driven by strong exports.

DISCUSSION AND INSIGHTS

In the discussion that followed, participants had the opportunity to ask questions and exchange views with Mag. Stefan Bruckbauer about the forecasts presented. The lively discussions showed the great interest in economic policy developments and their significance for people's everyday lives.

The participants went home with new insights and exciting perspectives – and a cautious optimism for the year 2025.

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