Austria: Economic sentiment rises in August but remains pessimistic
Latest reading: Economic sentiment came in at 93.2 in August, up from July’s 92.6. August’s result marked the strongest sentiment since February 2023. Consequently, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
August’s uptick reflected stronger consumer confidence compared to the prior month. On the flipside, sentiment weakened in the industrial, services, retail and construction sectors.
Regarding indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index fell in August.