WIFO-Konjunkturtest

The WIFO-Konjunkturtest (business cycle survey) is a monthly survey of Austrian companies on their economic situation and its development in the coming months. The results of the WIFO-Konjunkturtest help to reliably assess the economic development in Austria at an early stage. The WIFO-Konjunkturtest has been conducted since 1954 and has been part of the "Joint Harmonised EU Programme of Business and Consumer Surveys" since 1996.
 

Publications schedule

28.10.2022, 2 p.m
29.11.2022, 2 p.m.
06.01.2023, 2 p.m.

The WIFO-Konjunkturampel (Economic Traffic Light) Remains At "Red" in September

Sentiment among Austrian companies continued to deteriorate in September. At 5.1 points (seasonally adjusted), the WIFO Business Climate Index was 3.4 points below the value of the previous month (8.5 points) but still in positive territory. Despite declines, the situation indicators continue to show a favourable economic environment. However, business uncertainty has risen to new peaks as a result of the extensive suspension of Russian gas supplies and the development of energy prices. As a consequence, economic expectations have deteriorated further and the majority now signal a sceptical economic outlook. The WIFO economic traffic light remains at "red" and has now signalled a decline in economic momentum for five months.
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Publication – 29.09.2022
Werner Hölzl, Jürgen Bierbaumer, Michael Klien, Agnes Kügler

High Uncertainty Dampens Economy. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of September 2022

WIFO Business Cycle Survey
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Economic Sentiment Falls Sharply in the EU and the Euro Area, Employment Expectations Remain Relatively Robust

In September 2022, the Economic Sentiment Indicator (ESI) continued its steep decline in both the EU (–3.5 points to 92.6) and the euro area (–3.6 points to 93.7). The Employment Expectations Indicator (EEI) decreased more moderately (–0.8 points to 106.4 in the EU and –1.2 points to 106.7 in the euro area), staying markedly above long-term average.
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Impairments due to the Ukraine War and Possible Effects of Gas Stops on Production in the Manufacturing Sector

Results of the Special Survey on the Ukraine War as Part of the WIFO-Konjunkturtest of May 2022

The Ukraine war further increased uncertainty and impaired the majority of Austrian companies (55 percent). Larger companies (73 percent) in all sectors and companies in manufacturing (67 percent) were particularly affected, with rising energy and input prices cited most frequently. 
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Results of the WIFO-Konjunkturtest (Business Cycle Survey) of September 2022

High Uncertainty Dampens Economy 

The results of the WIFO-Konjunkturtest (business cycle survey) show a further weakening of economic dynamics in September. At 5.1 points (seasonally adjusted), the WIFO Business Climate Index was 3.4 points below the value of the previous month (8.5 points), but still in positive territory. Despite declines, the situation indicators continue to show a favourable economic environment. However, business uncertainty has risen to new peaks as a result of the almost complete cut-off of Russian gas supplies and the development of energy prices. As a result, economic expectations have deteriorated further and now signal a mostly sceptical economic outlook.

Further information can be found here.

The long index series of the WIFO-Konjunkturtest (business cycle survey) can be found here.
 

Credit Conditions of Austrian Companies

The credit questions of the WIFO-Konjunkturtest (business cycle survey) allow us to present the assessments and experiences of companies with regard to bank lending. The credit questions are asked quarterly in February, May, August and November.

Further information can be found here.

Links

WIFO Economic Data Service (PDF, XLSX)
ifo Business Climate Index
EU Business and Consumer Surveys
Europe-wide Business Cycle Indicators of the European Commission


The WIFO-Investitions- and Konjunkturtest is part of the "Joint Harmonised EU Programme of Business und Consumer Surveys".