Economic Expectations Improve

The results of the WIFO-Konjunkturtest (business cycle survey) show an improvement in the economic assessments of Austrian companies in April. At 11.0 points (seasonally adjusted), the WIFO Business Climate Index was 6.3 points above the value of the previous month (4.8 points). The service sectors in particular contributed to this increase. Assessments of the business situation rose in all sectors, except in the economically important manufacturing sector. Economic expectations also improved quite significantly across all sectors. However, economic expectations in the highly energy-intensive sectors remained sceptical. Overall, the results suggest an improvement in the economic situation in the coming months, even though business uncertainty remained above average in April.