Fourth COVID-19 Wave Dampens Economic Sentiment
Results of the WIFO-Konjunkturtest Quarterly Survey of January 2022
The results of the January WIFO-Konjunkturtest (business cycle survey) show a decline in economic momentum on a quarterly basis. However, in all sectors except retail trade, economic indicators remained at confident levels. Due to the easing of health policy restrictions in January, the WIFO-Konjunkturampel (economic traffic light) jumped to green. Business uncertainty remains high. Capacity utilisation fell in the service sectors but remained high overall. As in the previous quarter, the "shortage of labour force" was mentioned as the most important obstacle to business activity. In manufacturing, construction and retailing, shortages of materials and inputs continue to hamper business activity.