Decline in the Earning Power in Austrian Manufacturing in 2023

In 2022, the annual average cash-flow-to-sales ratio in Austrian manufacturing was 10.5 percent, just above the long-term average of 9.6 percent. According to econometric estimates by WIFO, it will have fallen to 9.6 percent in 2023. This reflects the weak economic growth in 2022. For 2024, preliminary estimates point to a further decline in profitability.