Economic Climate Worsens, Large Differences Between Sectors
Results of the WIFO-Konjunkturtest (Business Cycle Survey) of December 2021
Sentiment among Austrian companies deteriorated in December as a result of the fourth wave of the COVID-19 pandemic. The WIFO Business Climate Index stood at 12.0 points (seasonally adjusted), about 5.7 points below the value of the previous month (17.7 points). However, the index declines are strongly concentrated in sectors and industries that are particularly affected, directly or indirectly, by the pandemic and its restriction measures. The companies expect economic momentum to cool in the coming months.