In 2015, the cash-flow-to-sales ratio of the Austrian manufacturing sector reached an estimated 8.5 percent, a value which is slightly below the previous year's ratio of 8.6 percent. This marginal decrease of the profitability of manufacturing reflects the moderate growth performance of the manufacturing sector, which attained by a mere +1.3 percent in both 2014 and 2015. According to further estimates of a dynamic, panel-econometric model at the industry level, the cash-flow-to-sales ratio in manufacturing continued its sideward movement in 2016.