Economic Forecasts Improve, but Remain Cautious

The results of the WIFO- Konjunkturtest (business cycle survey) show a slight improvement in overall economic assessments in June. At –3.9 points (seasonally adjusted), the WIFO Business Climate Index was 0.7 points higher than in May. Sentiment has improved slightly in all sectors except manufacturing. However, the declines in manufacturing mainly affected the previously more dynamic consumer goods sector. The slight decline in expectations in industry shows that the stabilisation of the industrial economy is being affected by the high level of global uncertainty.