Austria: Economic sentiment picks up in May to a 15-month high
Economic sentiment came in at 91.3 in May, up from April’s 90.9. May’s result marked the strongest sentiment since February 2023. That said, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected improved sentiment in the industrial, retail and construction sectors. Moreover, confidence in the services sector improved in May. That said, consumer sentiment waned in May.
Referring to indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index decreased in May.