Economic Expectations Improve – Order Situation Remains Weak


WIFO-Konjunkturtest June 2020

The mood of Austrian companies remains sceptical in June. Although the WIFO business climate index (seasonally adjusted) rose by 7.6 points, at –20.7 points it was in the range of the values achieved during the financial market and economic crisis of 2008-09. The COVID-19 crisis continues to keep the Austrian economy in its grip.

The index of current assessments of the overall economic situation increased by 6.2 points in June (excluding seasonal fluctuations) to –30.0 points and is thus in the range of the values measured in April. Increases can be seen across all sectors. In the services sectors the index rises by 5.8 points to –34.9 points but remains close to the historical lows. In the construction industry the situation index rises by 14.9 points, and at –4.5 points is now only just in negative territory. In the manufacturing sector the situation index gained 4.1 points, but at –30.3 points is still in the skeptical range.

The expectations of Austrian companies across all sectors are significantly less negative than in the previous month. The index of business expectations rose by 9.0 points in June but remained negative at –11.2 points. In the construction industry alone, the expectations index has recovered to such an extent that it is above the zero line that separates negative from positive expectations: after an increase of 5.4 points, the index now stands at 4.8 points. In the service sectors, the expectations index also increased (+8.9 points), although at –9.2 points it remains in the skeptical range. The expectations index for the manufacturing sector is also continuing to recover (+10.2 points) but is still at a skeptical level at –19.4 points. The majority of companies in the manufacturing sector in particular expects the pace of normalisation to be rather moderate in the coming months.

Details on all sectors in the current economic survey can be found here.


Konjunkturerwartungen verbessern sich – Auftragslage bleibt schwach. Ergebnisse des WIFO-Konjunkturtests vom Juni 2020 (Economic Expectations Improve – Order Situation Remains Weak. Results of the WIFO Business Cycle Survey June 2020)
WIFO Business Cycle Survey, 2020, (6), 12 pages
Supported by: European Commission, DG Economic and Financial Affairs
Study by: Austrian Institute of Economic Research
Online since: 29.06.2020 14:00
Die Stimmung der österreichischen Unternehmen war auch im Juni weiterhin skeptisch. Zwar stieg der WIFO-Konjunkturklimaindex (saisonbereinigt) um 7,6 Punkte, er lag jedoch mit –20,7 Punkten im Bereich jener Werte, die während der Finanzmarkt- und Wirtschaftskrise 2008/09 erreicht wurden. Die COVID-19-Krise hält die österreichische Wirtschaft weiter im Griff.
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Werner Hölzl

Research groups: Industrial Economics, Innovation and International Competition
© Ahmed Elqsas/
© Ahmed Elqsas/