Economic Momentum Stabilises Again

The economic assessments of Austrian companies remained confident in October. The WIFO Business Climate Index stood at 19.4 points (seasonally adjusted), about 2.1 points above the value of the previous month (17.3 points). Economic assessments in gastronomy and tourism also improved again after the quite significant declines in the previous month. The improvement in business expectations across all economic sectors suggests that economic momentum is likely to remain stable in the coming months despite the pandemic, shortage of skilled workers and supply bottlenecks.