The estimate based on the data of the manufacturing companies surveyed in the WIFO Investment Survey shows a recovery of real investments by 4.8 percent for 2021 compared to 2020 in which investment slumped by 15.9 percent against the backdrop of COVID-19. The decline was more pronounced by large enterprises than by small and medium enterprises which also bear the recovery. The decline in 2020 was particularly strong in the manufacturing of investment goods and durable consumer goods. The increase in the coming year will be driven by producers of non-durable consumer goods and durable goods for Austria's economy as a whole, WIFO expects gross fixed capital formation to increase by 4.5 percent in real terms in 2021, which is facilitated by the "Investitionsprämie", an investment subsidy.