Austria's Industry Remains in Recession

Domestic industry is still in recession. Although the WIFO business climate index for manufacturing stabilised at the beginning of the year, it is still clearly in negative territory. The two sub-indices on the current situation and expectations for the next three months rose only marginally. In contrast to the other sectors, tourism is growing strongly despite the considerable increase in the cost of hotel and restaurant services. After an interruption in December, the decline in the inflation rate continued in January.