The "WIFO-Konjunkturtest": Methodology and Forecast Characteristics of the WIFO Business Cycle Survey

WIFO has been conducting its Business Cycle Survey since 1954. Today, some 1,600 businesses, with altogether more than 200,000 employees, are participating in the survey. The findings of the survey are analysed to obtain leading indicators of the state of the Austrian economy. The analysis shows that the macroeconomic indices of the WIFO Business Cycle Survey provide a reliable tool for monitoring the current econmic situation and forecasting its short-term development. They precede indicators of the official statistics in availability, providing clear indications of changes in the state of the economy at an early date.