WIFO-Monatsberichte (monthly reports)

Monthly analysis of current economic developments in Austria and the major OECD countries – Quarterly economic forecast – Some 70 articles per year with background information (tables and diagrams) and a short English abstract – Supplemented each month by a full set of tables listing approximately 300 macroeconomic indicators

Online full-text issues available since 1927 (free access for WIFO sponsors and members) – One-year subscription € 270, single issue € 27.50, download of individual articles € 16

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Klaus S. Friesenbichler, Nicole Schmidt-Padickakudy (WIFO), Arash Robubi (Austrian Institute for SME Research)
Cash-Flow-Quote der österreichischen Sachgütererzeugung 2019 rückläufig (Cash-flow Ratio of Austrian Manufacturing Declines in 2019)
WIFO-Monatsberichte, 2020, 93(9), pp.649-658
Online since: 28.09.2020 0:00
 
Im Jahresdurchschnitt 2018 lag die Cash-Flow-Umsatz-Relation in der österreichischen Sachgütererzeugung mit 9,9% noch deutlich über dem langjährigen Durchschnitt von 9,5%. Gemäß ökonometrischen Schätzmodellen des WIFO sank sie 2019 auf 8,8%. Aufgrund der tiefen Rezession, die durch die COVID-19-Pandemie und die gesundheitspolitischen Maßnahmen zu ihrer Eindämmung verursacht wurde, ist die Ertragskraft 2020 weiter rückläufig. Der Rückgang dürfte tiefer sein als in der Finanzmarkt- und Wirtschaftskrise 2008/09.
JEL-Codes:L22, L25, M21
Keywords:Cash-Flow, Ertragskraft, Eigenkapital, Österreich
Research group:Industrial Economics, Innovation and International Competition
Language:German

Cash-flow Ratio of Austrian Manufacturing Declines in 2019
At 9.9 percent, the cash flow-to-sales ratio in Austrian manufacturing in 2018 was still well above the long-term average of 9.5 percent. According to WIFO's econometric estimation models, the cash-flow ratio fell to 8.8 percent in 2019. Due to the deep recession caused by the COVID-19 pandemic and the measures taken against it, earnings power is shrinking further in 2020. The decline is likely to be deeper than in the financial market and economic crisis in 2008-09.

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