Austria: Economic sentiment drops to an eight-month low in August
Economic sentiment fell to 86.3 in August from July’s 86.5. August’s result marked the worst reading since December 2023. Consequently, the index remained entrenched below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected declining sentiment in the industrial sector and construction sectors. Additionally, confidence in the services sector softened in August. More positively, sentiment in the retail sector and among consumers rose.
Relating to indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index decreased in August.