Economic Assessments Remain Below Average

The results of the WIFO-Konjunkturtest (business cycle survey) in August show a sideways movement in business assessments of the economy at a low level. At –7.7 points (seasonally adjusted), the WIFO Business Climate Index was 0.4 points above the previous month's value (–8.1 points). The assessments of the total economy hardly changed and remain in the sceptical range. Economic expectations improved slightly, but continue to signal a mostly pessimistic economic outlook. The economic picture continues to be dominated by the weak industrial sector. Companies' demand for credit rose again slightly in the last quarter. However, companies continue to judge the banks' willingness to lend as restrictive.