Investment will Remain Steady at a Low Level. Results of the Autumn 2003 WIFO Investment Survey

The Austrian manufacturing industry as well as construction, electricity, gas, water and public transport plan to invest € 10.6 billion at current prices in 2004. Total investment is expected to increase slightly by 5.8 percent compared to 2003, after a two-year decrease. In the autumn survey 2003, manufacturers revised the forecast for total investment in 2003 down to –0.3 percent from the previous forecast of +1.8 percent in the spring survey. The main reason for the poor performance in 2004 is that investment in buildings will decrease by about 13.6 percent. By contrast, investment in machinery and equipment including ICT will rise by 1.4 percent. This increase will be substantial enough to offset the decline in investment in structures.