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

29.06.2023, 2 p.m.
28.07.2023, 2 p.m.
30.08.2023, 2 p.m.

The WIFO-Konjunkturampel (Economic Traffic Light) Jumps to "Red" in May

The results of the WIFO-Konjunkturtest (Business Cycle Survey) of May show a significant clouding of companies' assessments for the overall economy. At 4.9 points (seasonally adjusted), the WIFO-Konjunkturklimaindex (Business Climate Index) was 6.1 points below the value of the previous month (11.0 points). The assessment of the current business situation fell by 3.0 points compared to the previous month but remained positive at 9.7 points. Economic expectations deteriorated more markedly (-9.1 points) and were only at the zero line with 0.2 points. Business uncertainty remained above average in May and signaled economic risks. 
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Publication – 30.05.2023
Werner Hölzl, Jürgen Bierbaumer, Michael Klien, Agnes Kügler

Economic Expectations Cloud Over. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of May 2023

WIFO Business Cycle Survey
Details

Economic Sentiment and Employment Expectations Down in the EU and the Euro Area

In May 2023, the Economic Sentiment Indicator (ESI) decreased in both the EU (-1.9 points to 95.2 points) and the euro area (-2.5 points to 96.5 points). Also the Employment Expectations Indicator (EEI) declined (EU: -2.2 points to 104.0 points, euro area: -2.8 points to 104.7 points).
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Effects of Energy Price Shocks on Production and Prices

Results of the Special Survey on the Development of Energy Prices as Part of the WIFO-Konjunkturtest of November 2022

The increases in energy and input prices led to sales price increases for most of the companies surveyed. The price increases could only partially compensate for the cost increases for the majority of companies. Accordingly, most companies (65 percent) report a decline in profit margins.
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Results of the WIFO-Konjunkturtest (Business Cycle Survey) of May 2023

Economic Expectations Cloud Over

The results of the WIFO-Konjunkturtest (business cycle survey) show a deterioration in the economic assessments of Austrian companies in May. The WIFO Business Climate Index stood at 4.9 points (seasonally adjusted), 6.1 points below the value of the previous month (11.0 points). This decline was in particular due to economic expectations, which deteriorated significantly across all sectors, while the situation indicators still show an average economic environment for most sectors, except for the manufacturing sector. Companies' demand for credit declined in May. The majority of companies assess the willingness of banks to grant loans as restrictive this spring.

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".