Economic Forecasts Brighten Up. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of March 2021

Economic sentiment among Austrian companies improved significantly in March. At –3.2 points (seasonally adjusted), the WIFO Business Climate Index was only just in negative territory and improved significantly compared with the previous month. Although assessments of the current business situation were more positive, companies in sectors subject to severe regulatory restrictions remained sceptical. Companies' economic outlook brightened noticeably and was optimistic for the first time since the start of the COVID-19 pandemic.