Economic Assessments Remain Cautious Despite Improvement

The results of the WIFO-Konjunkturtest (business cycle survey) show a continued cautious stabilisation of business confidence in November. The WIFO Business Cycle Index stands at –0.9 points (seasonally adjusted), 0.6 points above the October figure. There are slight improvements in assessments of the current situation, while economic expectations remain virtually unchanged. There are slight differences across sectors: gains in the construction industry are offset by declines in retail trade. Despite improvements in the assessment of the current situation, the industrial economy remains subdued. Demand for credit from businesses declined slightly compared with the previous quarter. Business assessments of banks' willingness to lend improved slightly. However, the majority still consider this to be cautious.