Business Cycle Indicators Reveal Hardly Any Effects of the Global Coronavirus Spread So Far

The global outbreak of the coronavirus hits the global economy in a weak phase, the economy lost momentum in the fourth quarter of 2019. In Austria, by contrast, growth remained stable. At the beginning of the year, business sentiment brightened according to the WIFO-Konjunkturtest (business cycle survey). It does not yet reflect the effects of the coronavirus epidemic, however. The Austrian labour market continues to develop favourably. Inflation, though, rose significantly at the beginning of the year.