Labour Shortages and Supply Bottlenecks Hamper Business Activity. Results of the WIFO-Konjunkturtest Quarterly Survey of October 2021

Werner Hölzl, Juergen Bierbaumer-Polly, Michael Klien and Agnes Kügler

WIFO Reports on Austria, 2021, issue 14

Abstract: The business cycle assessments of Austrian companies show a stable development of the economy across almost all sectors in October, except in the retail trade sector. Nevertheless, the WIFO-Konjunkturampel (economic traffic light) shows red and thus signals that the peak of the economic upturn has probably been reached. Capacity utilisation fell slightly in manufacturing but remained above average in all sectors. As in the previous quarter, the "shortage of labour force" was cited as the most important obstacle to business activity. In addition, shortages of materials and inputs caused by supply bottlenecks hampered business activity in manufacturing, construction and retailing.

Keywords: WIFO-Konjunkturtest; quartaly data; business cycle (search for similar items in EconPapers)
Date: 2021
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