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

28.09.2023, 2 p.m.
30.10.2023, 2 p.m.
29.11.2023, 2 p.m.

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

The results of the WIFO Business Survey of August show a further deterioration in business assessments of the economy. The WIFO Business Climate Index stood at –8.9 points (seasonally adjusted), 3.6 points below the value of the previous month (–5.2 points). The situation assessments fell by 5.6 points compared to the previous month and were clearly in negative territory at –7.7 points. Economic expectations also deteriorated further (–1.7 points) and were also clearly negative at –10.0 points. Business uncertainty remained at an above average level in August. Accordingly, the WIFO economic traffic light continues to signal
a worsening of economic dynamics with "red".
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Publication – 30.08.2023
Werner Hölzl, Jürgen Bierbaumer, Michael Klien, Agnes Kügler

Economic Downturn Intensifies. Results of the WIFO-Konjunkturtest (Business Cycle Survey) of August 2023

WIFO Business Cycle Survey
Details

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

In August 2023, the Economic Sentiment Indicator (ESI) continued to decline in both the EU (–0.6 points to 92.9 points) and the euro area (–1.2 points to 93.3 points). Also the Employment Expectations Indicator (EEI) declined further (–1.0 point to 101.7 points in the EU and –1.3 points to 102.1 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 August 2023

Economic Downturn Intensifies

The results of the WIFO-Konjunkturtest (business cycle survey) show a continuation of the decline in business assessments of the economy in August. The WIFO Business Climate Index stood at –8.9 points (seasonally adjusted), 3.6 points below the previous month's value (–5.2 points). Assessments of the current situation declined across all sectors and were deeply in negative territory, especially in manufacturing. Economic expectations also deteriorated further, signaling a pessimistic economic outlook. Demand for credit among companies did not decline further in August, but the majority of them still assess banks' willingness to lend as 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-Investitions- and Konjunkturtest is part of the "Joint Harmonised EU Programme of Business und Consumer Surveys".