Slight Improvement in Economic Sentiment at the Beginning of the Year

Results of the WIFO-Konjunkturtest Quarterly Survey of January 2023

The results of the WIFO-Konjunkturtest (business cycle survey) of January show a slight improvement in economic assessments compared with the previous quarter. However, economic expectations remained subdued in all sectors. Capacity utilisation stayed at an average level. In the aggregate economy, as in previous quarters, the "shortage of labour" was the most important obstacle to business activity, with "shortage of demand" continuing to gain slightly in importance. Although business uncertainty has decreased, it remains high and reflects considerable economic risks. Despite declines, sales price expectations also remained above average.