Austria's Investments in International and Sectoral Comparison

This study examines Austria's investment activity before COVID-19 and offers first insights into the investment behaviour during the crisis. The setting is provided by an analysis of investment ratios in international comparison and over time. Investment ratios in equipment, intellectual property and construction are linked to economy-wide productivity levels. The first effects of the COVID-19 crisis on corporate investments are illustrated by means of firm-level surveys. To estimate the investment developments until 2022, a forecast model for investment growth in the private sector at the sectoral level (ÖNACE 1-digit level) is developed. The results show substantial differences in the investment dynamics across sectors.