Economic Development with Weak Momentum

The results of the WIFO-Konjunkturtest (business cycle survey) of November continue to show sceptical economic assessments by Austrian companies. At –6.9 points (seasonally adjusted), the WIFO Business Climate Index was up 0.8 points compared to the previous month (–7.7 points), but remained in pessimistic territory. Situation assessments remained almost unchanged compared to the previous month and were particularly negative in the manufacturing sector. Economic expectations improved slightly, but continue to signal a sceptical economic outlook. Companies' demand for credit rose slightly in November. Nevertheless, the majority of companies consider the banks' willingness to lend to be restrictive.