Turnover index in Austria

Austria's retail turnover index measures the volume of goods sold by retail outlets, including food. Published by Statistics Austria, it is one of the most relevant indicators for tracking household consumption.

It is built from a survey of a broad sample of retailers on their turnover, from which an index against a base year is constructed. It is released in nominal and volume (deflated) terms, calendar- and seasonally adjusted, with year-on-year and month-on-month changes.

It gives an early read on private consumption, the largest component of Austria's GDP, making it an input for growth estimates and for the ECB's reading of domestic demand in the euro area.

It is a volatile indicator, sensitive to seasonal factors, promotions and the calendar. Preliminary data are revised as more survey responses come in, and it does not capture spending on services, an ever larger share of consumption.