Upswing Loses Momentum, Indices Remain at High Level

Sentiment among Austrian companies remained at a high level in August. The WIFO Business Climate Index stood at 19.7 points (seasonally adjusted), about 2.2 points below the value of the previous month (22.0 points). Assessments of the situation and expectations showed slight declines due to the increase in the number of infections and continuing supply bottlenecks. After the strong catch-up process of the past months, the upswing is likely to continue with weaker momentum in the coming months.