Economic Expectations Cloud Over

The results of the WIFO-Konjunkturtest (business cycle survey) show a clear decline in economic dynamics in July. The WIFO Business Climate Index stood at 10.5 points (seasonally adjusted), 6.1 points below the value of the previous month (16.7 points). The results show a weakening in situation assessments and economic expectations. While the situation indicators still point to a positive economic environment, business expectations signal a weak economic outlook for companies. The unpredictability of gas supply and high energy prices have further increased business uncertainty. The majority of companies still expects to have to raise prices.