Economic Sentiment Collapses as a Result of the COVID-19 Pandemic. Results of the WIFO-Konjunkturtest Quarterly Survey of April 2020

The April results of the WIFO-Konjunkturtest (business cycle survey) show a crash in the business sentiment of Austrian companies. As a result of the COVID-19 pandemic, the WIFO economic climate indices collapsed. The WIFO Economic Traffic Light confirms the deterioration of the mood in the Austrian business sector. Uncertainty rose sharply in all sectors, the uncertainty indicator reached record levels. Capacity utilisation declined in all sectors, as did the assured production duration. The information on the obstacles to their business activities provided by companies also shows the distortions of the COVID-19 crisis. The most important obstacle mentioned was "other obstacles", closely followed by "lack of demand".