Austria: Economic sentiment turns more downbeat in November
Latest reading: Economic sentiment dropped to 86.6 in November from October’s 87.5. 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 chiefly reflected weaker sentiment in the industrial sector and among consumers. More positively, confidence in the services sector strengthened, and November saw healthier sentiment in the retail and construction sectors.
Considering indicators that are not used to calculate the index, employment expectations improved, while the economic uncertainty index deteriorated in November.