WIFO-Investitionsbefragung (Investment Survey) of Spring 2023

The results of the WIFO-Investitionsbefragung (investment survey) suggest a further reduction in investment plans for 2023. Investment growth is likely to decline more in manufacturing than in the services sector. At the subsector level, the picture is mixed. Within the manufacturing sector, mainly producers of durable consumer goods and intermediate goods reduce their investments, while in the services sector it is professional, scientific and technical activities, administrative and support service activities, and real estate activities. Firms in financial and insurance activities report robust growth. Large firms are expected to reduce investment less than small and medium-sized companies (SMEs). The slowdown in growth is reported in all investment categories (equipment, infrastructure and intangible investment). For Austria's overall economy, WIFO expects gross fixed capital formation to stagnate in real terms in 2023 (0.0 percent).