The Economic Downturn is Consolidating
Results of the WIFO-Konjunkturtest (Business Cycle Survey) of October 2022
The results of the WIFO-Konjunkturtest (business cycle survey) show a further clouding of economic sentiment among Austrian companies in October. At 2.9 points (seasonally adjusted), the WIFO Business Climate Index was 2.4 points below the value of the previous month (5.3 points), only just in positive territory. The assessments of the current situation deteriorated further but remain in positive territory. However, business uncertainty rose to new highs. Economic expectations deteriorated further and signal pessimistic economic outlooks.