Weak Momentum at the Beginning of the Year

The results of the WIFO-Konjunkturtest (business cycle survey) continue to show a weak trend in business assessments of the economy in January. At –6.8 points (seasonally adjusted), the WIFO Business Climate Index was 0.6 points below the previous month's value (–6.2 points) and thus remains in pessimistic territory. Situation assessments deteriorated slightly compared to the previous month. Economic expectations also deteriorated slightly compared to the previous month and continue to signal a cautious economic outlook. The sceptical economic picture continues to be determined by the very weak industrial and construction sectors. Accordingly, business uncertainty – measured in terms of the ability to assess their own future business situation – remained above average in January.