Economic Momentum Stabilises in Most Sectors, Declines in Gastronomy and Tourism

The economic assessments of Austrian companies remained confident in September, with only the gastronomy and tourism sectors showing a stronger decline, which can be attributed to the fourth wave of the COVID-19 pandemic. The WIFO Business Climate Index stood at 17.1 points (seasonally adjusted), about 0.5 points below the value of the previous month (17.6 points). The companies' expectations indicate that the economic momentum in autumn is likely to remain stable in most economic sectors despite the pandemic and supply bottlenecks.