Fourth Issue of Business Cycle Index KonSens
COVID-19 has a heavy impact, also on Liechtenstein’s economy: In the 1st quarter of 2020, the KonSens recorded the sharpest drop since the begin of the time series and fell from −0.1 in the 4th quarter of 2019 to −2.4. Until now, lower KonSens values were only observed during the financial crisis. The very low negative value of the KonSens business cycle index indicates that growth and capacity utilization in Liechtenstein are very weak in historic comparison. Since the 1st quarter was only partially affected by the pandemic, a further decrease in the 2nd quarter is likely to occur. Methodical updates in the business survey (Office of Statistics) have led to minor KonSens revisions in 2019.