Economic Expectations Stable at a Low Level

The results of the WIFO-Konjunkturtest (business cycle survey) show a sideways movement in business assessments of the economy in March. At –6.7 points (seasonally adjusted), the WIFO Business Climate Index remains at the same level as in the previous month. Despite improvements, this economic picture continues to be determined by the weak industrial economy. Economic sentiment in the construction industry also continued to deteriorate in March. The overall economic situation assessments deteriorated compared to the previous month and remained below average. By contrast, overall economic expectations improved significantly.