Economic Upturn Stabilises

Sentiment among Austrian companies stabilised at a high level in July. The WIFO Business Climate Index was at 22.0 points (seasonally adjusted), almost unchanged from the previous month (22.6 points). Economic assessments of the current situation improved despite continuing supply bottlenecks. Economic expectations, on the other hand, show a decline, but nevertheless remain at a high level. After the strong catch-up process of the past months, the upswing is continuing with somewhat weaker momentum.