Austria: Economic sentiment improves in May
Latest reading: Economic sentiment rose to 91.8 in May from April’s 89.1. May’s result marked the strongest sentiment since February 2023. However, the index remained below the long-term average of 100, pointing to a muted near-term outlook for the economy.
The headline print reflected healthier sentiment in the industrial sector plus stronger confidence in the services sector and among consumers. That said, sentiment in the construction and retail sectors deteriorated in the surveyed month.
Regarding indicators that are not used to calculate the index, employment expectations weakened, while the economic uncertainty index decreased in May.