Economic Sentiment Develops Unevenly

The results of the WIFO-Konjunkturtest (business cycle survey) show a continuation of the slow stabilisation of business confidence in December. The WIFO Business Climate Index stood at 0.2 points (seasonally adjusted), 1.2 points above the November figure. There were slight improvements in the aggregate assessments of the current situation and economic expectations. However, there are significant differences across sectors. The improvement is mainly due to the brightening of the economic mood in the service sector, while the index shows declines in the construction industry. Despite improvements in expectations, the industrial economy remains subdued.