Enterprise Responses to the COVID-19 Crisis. An Analysis Based on the Results of the Special Survey Conducted in the WIFO-Konjunkturtest of April 2020

In April 2020 the WIFO-Konjunkturtest (business cycle survey) included special survey questions on the COVID-19 pandemic. The survey results show the dramatic effects of the COVID-19 crisis on Austrian enterprises. The enterprises expect average sales losses of 21 percent for this year. Around 35 percent say that they will only be able to get through for three months or less if the measures to stop the spread of the SARS-CoV-2 virus are continued. The majority already reacted to the COVID-19 crisis with measures. Enterprises that are more strongly affected by the COVID-19 crisis are reacting more strongly with measures to cut costs in the operational business and finance as well as in investments. This has the potential to exacerbate the crisis. The majority of the companies surveyed consider the counter measures to be helpful.