Economic Expectations Lose Momentum

Results of the WIFO-Konjunkturtest (Business Cycle Survey) of March 2022

The results of the WIFO-Konjunkturtest (business cycle survey) for March show an improvement in the mood of Austrian companies. At 17.8 points (seasonally adjusted), the WIFO Business Climate Index was 1.7 points above the value of the previous month (16.0 points). The increase is mainly due to the improved assessments of the situation in the service sectors, which is related to the lifting of many COVID-19 restriction measures. However, uncertainty increased with the Ukraine war. Especially in the manufacturing sector, economic expectations lost momentum.