Slight Reduction in Cash-Flow-to-Sales Ratio. Profitability of Austrian Manufacturing in 2013

In 2013, the cash-flow-to-sales ratio of the Austrian manufacturing sector reached an estimated 9.0 percent, a value significantly below the long-run average of 9.6 percent. The persistently muted performance of the manufacturing sector has affected the cash-flow-to-sales ratio, which declined subst...

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Bibliographische Detailangaben
Link(s) zu Dokument(en):WIFO Publikation
Veröffentlicht in:WIFO Bulletin
Hauptverfasser: Werner Hölzl, Klaus S. Friesenbichler, Kerstin Hölzl
Format: article
Sprache:Englisch
Veröffentlicht: 2014
Schlagworte:
Beschreibung
Zusammenfassung:In 2013, the cash-flow-to-sales ratio of the Austrian manufacturing sector reached an estimated 9.0 percent, a value significantly below the long-run average of 9.6 percent. The persistently muted performance of the manufacturing sector has affected the cash-flow-to-sales ratio, which declined substantially in the aftermath of the financial crisis. The sector's real value added growth amounted to a mere 1.2 percent in 2012 and 2013. According to the estimates of a dynamic panel-econometric model at industry level, the cash-flow-to-sales ratio in manufacturing declined slightly against 2012 (2012: 9.2 percent).