WIFO-Konjukturtest of January 2020

The index of current assessments of the overall economy rises by 2.9 points to a value of 11.1 points in January (excluding seasonal fluctuations). This gain is due to the service sectors and construction industry. In the service sectors, the index rises by 3.7 points and signals a dynamic service economy with 15.5 points. In the construction industry the index rises by 7.3 points. With a value of 34.9 points, it is in the very optimistic range and thus reflects the unusual scope of the positive economic assessments but also the good weather conditions. In the economically significant manufacturing sector, the situation index gained only slightly (+0.3 points) and at –2.8 points is still below the zero-line separating positive and negative economic assessments.

The index of business expectations also gained momentum in January (+2.8 points), reaching a value of 8.8 points. In the construction industry, the expectations index fell (–2.2 points), but the index value remained in the confident range at 11.6 points. In the service sectors the expectations index increased significantly compared to the previous month (+4.4 points) and at 14.5 points is in the range of confident economic expectations. The expectations index for the manufacturing sector also increased (+1.4 points), but at –1.1 points is still negative and reflects the weak industrial economy.

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