Despite Improvement in the Manufacturing Sector, Economic Momentum is Flattening Out. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of October 2020

In October, the majority of Austrian companies' economic outlook remained sceptical. The WIFO economic climate index (+0.1 points) stayed in negative territory at –9.4 points. The assessments of the current situation and the dynamics of corporate expectations remained subdued. While the economic assessments were improving in the manufacturing sector, the service and construction sectors were losing economic momentum again.