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Economic Expectations Weaken. Results of the WIFO-Konjunkturtest Quarterly Survey of July 2022

Author

Listed:
  • Werner Hölzl
  • Jürgen Bierbaumer
  • Michael Klien
  • Agnes Kügler

Abstract

The results of the WIFO-Konjunkturtest (business cycle survey) of July show a weakening of economic dynamics and a clouding of economic expectations in a quarterly comparison. In all sectors, the economic indicators lost ground compared to April. Capacity utilisation also declined in all sectors but remained at above-average levels. In the economy, as in the previous quarter, the "shortage of labour force" was the most important obstacle to business activity, in manufacturing and retailing the shortage of materials and intermediate products. Business uncertainty increased, while sales price expectations remained above average.

Suggested Citation

  • Werner Hölzl & Jürgen Bierbaumer & Michael Klien & Agnes Kügler, 2022. "Economic Expectations Weaken. Results of the WIFO-Konjunkturtest Quarterly Survey of July 2022," WIFO Reports on Austria, WIFO, issue 11, August.
    • Handle: RePEc:wfo:repoau:y:2022:i:11
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    References listed on IDEAS

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    1. Werner Hölzl & Michael Klien & Agnes Kügler, 2022. "Beeinträchtigungen durch den Ukraine-Krieg und mögliche Auswirkungen von Gasstopps auf die Produktion in der Sachgütererzeugung. Ergebnisse der Sonderbefragung zum Ukraine-Krieg im Rahmen des WIFO-Kon," WIFO Studies, WIFO, number 69679.
    2. Christian Glocker & Werner Hölzl, 2015. "Bestimmung einer Konjunkturampel für Österreich auf Basis des WIFO-Konjunkturtests," WIFO Monatsberichte (monthly reports), WIFO, vol. 88(3), pages 175-183, March.
    3. Glocker Christian & Hölzl Werner, 2022. "A direct measure of subjective business uncertainty," German Economic Review, De Gruyter, vol. 23(1), pages 121-155, February.
    4. Werner Hölzl & Michael Klien & Agnes Kügler, 2019. "Konjunktur schwächt sich weiter ab. Ergebnisse der Quartalsbefragung des WIFO-Konjunkturtests vom Oktober 2019," WIFO Monatsberichte (monthly reports), WIFO, vol. 92(11), pages 807-819, November.
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