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

08.01.2024, 2 p.m.
30.01.2024, 2 p.m.
28.02.2024, 2 p.m.

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

The results of the WIFO Business Survey in November show a slight improvement in overall economic assessments, although the majority remained sceptical. At –6.9 points (seasonally adjusted), the WIFO economic climate index was 0.8 points higher than the previous month's figure (–7.7 points). The overall economic situation assessments remained almost unchanged from the previous month (–0.1 points) and remained in pessimistic territory at –8.1 points. Despite an improvement (+1.5 points), economic expectations also remained in negative territory at –5.9 points. The WIFO economic traffic light remains "red" and continues to signal weak economic momentum.
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Publication – 29.11.2023
Werner Hölzl, Jürgen Bierbaumer, Michael Klien, Agnes Kügler

Economic Development with Weak Momentum. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of November 2023

WIFO Business Cycle Survey
Details

Economic Sentiment Mildly Up in the EU and the Euro Area; Employment Expectations Moderately Down in Both Regions

In November 2023, the Economic Sentiment Indicator (ESI) improved mildly in both the EU (+0.5 points to 93.7) and the euro area (+0.3 points to 93.8). 1 The Employment Expectations Indicator (EEI), by contrast, eased moderately in both areas (EU: –0.5 points to 101.8, euro area: –0.7 points to 102.1). 2Contrary to the ESI, the EEI continued to score slightly above its long-term average.

European Commission – BCS press releases
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Results of the WIFO-Konjunkturtest (Business Cycle Survey) of November 2023

Economic Development With Weak Momentum

The results of the WIFO-Konjunkturtest (business cycle survey) of November continue to show sceptical economic assessments by Austrian companies. At –6.9 points (seasonally adjusted), the WIFO economic climate index was up 0.8 points compared to the previous month (–7.7 points), but remained in pessimistic territory. Situation assessments remained almost unchanged compared to the previous month and were particularly negative in the manufacturing sector. Economic expectations improved slightly, but continue to signal a sceptical economic outlook. Companies' demand for credit rose slightly in November. Nevertheless, the majority of companies consider the banks' willingness to lend to be restrictive.

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-Konjunkturtest and the WIFO-Investitiosbefragung are part of the "Joint Harmonised EU Programme of Business und Consumer Surveys".