Economic Forecasts Remain Strained Despite Improvement

The results of the WIFO-Konjunkturtest (business cycle survey) show a slight improvement in business assessments of the economy in September, although the majority of sectors remained tense. At –5.9 points (seasonally adjusted), the WIFO Business Climate Index in September was 1.7 points above the previous month's value (–7.6 points). The industrial economy in particular remained weak in September. Despite an improvement, assessments of the total economy remained sceptical. Economic expectations also improved slightly, but on balance continue to signal a sceptical economic outlook for the coming months.