WIFO-Monatsberichte (monthly reports)

The WIFO-Monatsberichte (monthly reports) contain research results and publications by WIFO staff on national and international economic developments based on sound economic analyses. Additionally, important key figures on the international and Austrian economic situation are published in the WIFO-Monatsberichte.

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Jesús Crespo Cuaresma (Vienna University of Economics and Business)
Claudia Kemfert (German Institute for Economic Research)
Philipp Schmidt-Dengler (University of Vienna)
Jens Südekum (Heinrich Heine University Düsseldorf)
Andrea Weber (Central European University)

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Klaus Friesenbichler, Werner Hölzl
Investitionspläne für 2024 weiter gekürzt. Ergebnisse der WIFO-Investitionsbefragung vom Herbst 2023 (Investment Plans for 2024 Further Reduced. Results of the Autumn 2023 WIFO Investment Survey)
WIFO-Monatsberichte, 2024, 97(1), pp.19-27
Online since: 06.02.2024 0:00
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Die Ergebnisse der WIFO-Investitionsbefragung zeigen für 2023 eine rückläufige Investitionsnachfrage. Das Branchenbild lässt auf einen breiten Abschwung schließen. Lediglich Finanz- und Versicherungsdienstleister sowie Unternehmen der Information und Kommunikation meldeten 2023 mehrheitlich Investitionszuwächse. Die Investitionsdynamik dürfte auch 2024 weiter abnehmen, wobei Sachgütererzeuger noch zurückhaltender planen als Dienstleister. Sowohl Großunternehmen als auch kleine und mittelgroße Unternehmen dürften ihre Investitionen 2024 einschränken. Die Investitionstätigkeit wird vor allem durch technologische Entwicklungen getrieben. Am häufigsten dienen Investitionen dem Ersatz veralteter Anlagen oder Ausrüstungen. Kapazitätserweiterungen spielen als Investitionszweck lediglich eine untergeordnete Rolle.
JEL-Codes:D22, D25, G31
Keywords:Investitionen, Prognose, Konjunkturtest, Befragung, Österreich
Research group:Industrial, Innovation and International Economics
Language:German
Investment Plans for 2024 Further Reduced. Results of the Autumn 2023 WIFO Investment Survey
The results of the WIFO investment survey show a decline in investment demand for 2023. The picture across industries suggests a broad-based downturn. Only in financial and insurance activities as well as in information and communication a majority of firms reported having increased their investments in 2023. Investment plans will continue to decline in 2024. Firms in the manufacturing sector are even more cautious than respondents in services with regard to their investment plans for 2024. Both large companies and small and medium-sized enterprises intend to reduce their investments in 2024. Investment activity seems to be primarily driven by technological developments. Investments are most frequently reported to replace old plant or equipment. Capacity expansions only play a subordinate role as an investment purpose.
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