Economic Assessments Show Mixed Development
Results of the WIFO-Konjunkturtest (Business Cycle Survey) of March 2023
The results of the WIFO-Konjunkturtest (business cycle survey) show a further slight weakening in the economic assessments of Austrian companies in March. The WIFO Business Climate Index stood at 4.9 points (seasonally adjusted), 0.6 points below the value of the previous month (5.5 points). The sectoral decline is mainly due to a further weakening of economic assessments in the construction industry. In the aggregate, the current situation assessments deteriorated across all sectors, while economic expectations improved at a low level. The results suggest a continuation of the sideways economic movement for the coming months. Business uncertainty declined further in March but continues to signal increased economic risks.