Economic Assessments Stabilise at the End of the Year

10.01.2023

Results of the WIFO-Konjunkturtest (Business Cycle Survey) of December 2022

The economic assessments of Austrian companies improved slightly in December. The WIFO Business Climate Index stood at 5.6 points (seasonally adjusted), 1.4 points above the value of the previous month (4.2 points). The increase is primarily due to the improvement in situation assessments. The situation index rose by 2.8 points to 10.3 points. Business uncertainty remained above average. Accordingly, economic expectations remained cautious, signalling a continuation of the weak economic momentum.

The index of current assessments rose by 2.8 points in December and was in positive territory at 10.3 points. In the manufacturing sector, which is particularly sensitive to economic developments, the situation index lost 0.3 points compared with the previous month and remained above the zero line at 3.7 points. In the construction industry, the situation index increased by 2.1 points and remained clearly in positive territory at 19.6 points. In the service sectors, the index gained 4.7 points compared to the previous month and was again noticeably in the confident range with a value of 14.8 points. In the retail sector, the situation index rose by 3.4 points, but remained in sceptical territory at –2.7 points.

The business expectations index remained virtually unchanged in December (–0.1 points) at 0.9 points and was still only just above the zero-line separating negative from positive economic expectations. In the retail sector, the expectations index rose (+2.7 points), but remained deep in sceptical territory at –17.2 points. In the service sectors, the expectations index remained unchanged at 3.2 points and just above the zero line. In the construction industry, on the other hand, the expectations index fell by 2.7 points but remained at an optimistic 32.5 points. This high value is due to the continued high expectations for construction prices. Business situation expectations remained sceptical in the construction industry. In the manufacturing sector, which was particularly affected by the energy price increases, the expectations index showed a slight decline (–0.5 points). At –7.8 points, the index remained deeply pessimistic.

 
 

Publications

Konjunkturbeurteilungen stabilisieren sich zu Jahresende. Ergebnisse des WIFO-Konjunkturtests vom Dezember 2022 (Economic Assessments Stabilise at the End of the Year. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of December 2022)
WIFO Business Cycle Survey, 2022, (12), 11 pages
Commissioned by: European Commission
Online since: 06.01.2023 14:00
Die Konjunkturbeurteilungen der österreichischen Unternehmen verbesserten sich im Dezember leicht. Der WIFO-Konjunkturklimaindex notierte mit 5,6 Punkten (saisonbereinigt) 1,4 Punkte über dem Wert des Vormonats (4,2 Punkte). Der Anstieg ist in erster Linie auf die Verbesserung der Lageeinschätzungen zurückzuführen. Der Lageindex stieg um 2,8 Punkte auf 10,3 Punkte. Die unternehmerische Unsicherheit blieb weiterhin überdurchschnittlich. Dementsprechend blieben die Konjunkturerwartungen vorsichtig und signalisieren eine Fortsetzung der schwachen Konjunkturdynamik.
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Dr. Werner Hölzl

Research groups: Industrial, Innovation and International Economics
© Ahmed Elqsas/behance.net
© Ahmed Elqsas/behance.net