Austria: Economic sentiment eases in July
Economic sentiment ticked down to 86.5 in July from June’s 86.6. July’s result marked the weakest sentiment since December 2023. As a result, the index remained entrenched below the long-term average of 100, pointing to a downbeat near-term outlook for the economy.
The headline print reflected deteriorating confidence in the services sector plus weaker sentiment in the retail and construction sectors. Moreover, consumer sentiment declined in July. Meanwhile, sentiment in the industrial sector improved.
Relating to indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index decreased in July.