Economic Assessments Deteriorate Further

Results of the WIFO-Konjunkturtest (Business Cycle Survey) of July 2023

The results of the WIFO-Konjunkturtest (business cycle survey) in July show a continuation of the cooling down of business cycle assessments. The WIFO Business Climate Index stood at –5.1 points (seasonally adjusted), 4.2 points below the value of the previous month (–0.8 points). The situation assessments declined across the sectors – except for the retail trade – and were deep in negative territory, especially in the energy-intensive material goods sectors. Economic expectations also deteriorated further, signalling a sceptical economic outlook across sectors. In line with the economic trend, sales price expectations continued to decline.