Economy Continues to Lose Momentum

The results of the WIFO-Konjunkturtest (business cycle survey) show a slight decline in economic momentum in June. At 16.8 points (seasonally adjusted), the WIFO Business Climate Index was 2.6 points below the value of the previous month (19.4 points). The results show a weakening in the situation assessments, which, however, continue to indicate a good economic environment. As a result of high business uncertainty and rising input prices, however, economic expectations lost further momentum. The majority of companies still expect to have to raise prices in the coming months.