News – 10.11.2023
WIFO Business Cycle Report of November 2023
The weakness of global industrial
activity is slowing economic development in the euro area. Austrian GDP declined by 0.6 percent in the third quarter and household
consumption fell significantly. According to the WIFO-Konjunkturtest (business cycle survey), companies' economic assessments
remained predominantly sceptical. Inflation slowed to 5.4 percent in October, while the unemployment rate stood at 6.3 percent.