Economic Climate Index Declines Slightly

The results of the WIFO- Konjunkturtest (business cycle survey) once again show a slight decline in economic assessments in July. At –8.1 points (seasonally adjusted), the WIFO economic climate index in July was 1.4 points below the previous month's value (–6.7 points). The industrial economy remained weak in July. Economic assessments in the other sectors have also deteriorated recently. This applies in particular to situation assessments, which are once again noticeably below the zero line that separates positive from negative assessments. Economic expectations, on the other hand, hardly changed in July, but on balance continue to signal a sceptical economic outlook.