Economic Downturn Continues

The results of the WIFO-Konjunkturtest (business cycle survey) in July show a significant deterioration of economic assessments across all sectors. Economic assessments and expectations were particularly sceptical in manufacturing. Capacity utilisation declined in all sectors. In the total economy, as in previous quarters, the "shortage of labour force" was the most important obstacle to business activity, although "insufficient demand” Increased further in importance. Sales price expectations continue to show a downward trend.