Economic outlooks are becoming more optimistic

The results of the WIFO-Konjunkturtest (business cycle survey) show a continuation of businesses' assessment of the economic situation in October. The WIFO Business Climate Index stood at 0.9 points (seasonally adjusted), 3.4 points above the September figure. Assessments of the current situation improved across all sectors and returned to the optimistic range. Economic expectations also brightened, though they remained at a subdued level. The rise in expectations is primarily attributable to the improvement in the expectation indices for manufacturing and services. In the construction sector, expectations rose slightly, whilst in the retail sector they declined slightly.