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

27.04.2023, 2 p.m.
30.05.2023, 2 p.m.
29.06.2023, 2 p.m.

The WIFO-Konjunkturampel (Economic Traffic Light) Turns to "Red" in March

The March results of the WIFO-Konjunkturtest (business cycle survey) show a slight weakening of business assessments of the economy. The WIFO Business Climate Index stood at 4.9 points (seasonally adjusted), 0.6 points below the value of the previous month (5.5 points). Assessments of the current situation declined by 3.0 points, but remained positive at 7.9 points. Economic expectations improved slightly (+1.9 points) and were back above the zero line at 2.1 points. Entrepreneurial uncertainty – measured by the assessability of their own future business situation – declined further in March, but remained above average. The WIFO economic traffic light turns to "red", signalling a further slowdown in economic momentum.
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Publication – 30.03.2023
Werner Hölzl, Jürgen Bierbaumer, Michael Klien, Agnes Kügler

Economic Assessments Show Mixed Development. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of March 2023

WIFO Business Cycle Survey
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Economic Sentiment and Employment Expectations Marginally Lower in the EU and the Euro Area

In March 2023, the Economic Sentiment Indicator (ESI) declined marginally in both the EU and the euro area (-0.3 points to 97.4 points in the EU and to 99.3 points in the euro area). Also the Employment Expectations Indicator (EEI) came in marginally lower (-0.1 points to 107.6 points in the EU and -0.3 points to 109.0 points in the euro area).
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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 March 2023

Economic Assessments Show Mixed Development

The results of the WIFO-Konjunkturtest (business cycle survey) show a further slight weakening in the economic assessments of Austrian companies in March. The WIFO Business Climate Index stood at 4.9 points (seasonally adjusted), 0.6 points below the value of the previous month (5.5 points). The sectoral decline is mainly due to a further weakening of economic assessments in the construction industry. In the aggregate, the current situation assessments deteriorated across all sectors, while economic expectations improved at a low level. The results suggest a continuation of the sideways economic movement for the coming months. Business uncertainty declined further in March but continues to signal increased economic risks.

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".