Economic Downturn Continues

The results of the WIFO-Konjunkturtest (business cycle survey) in October continue to show a sceptical picture. Economic assessments declined across all sectors. Economic expectation remained pessimistic. Economic assessments and expectations remained particularly sceptical in manufacturing. Capacity utilisation continued to decline. In the total economy, the shortage of demand replaced shortage of labour force as the most frequently cited obstacle to business activity, increased further in importance. Sales price expectations stabilised but remained at above-average level in the service and retail trade sectors.