Crisis Reaches Retail Sector

BusinessEconomy ♦ Published: July 21, 2011; 16:01 ♦ (Vindobona)

Austria’s retail industry starts to feel the effects of a high inflation rate and the euro crisis. In May, revenues declined by 2.3%.

Crisis Reaches Retail Sector / Picture: ©

The period of growing revenues in the Austrian retail industry comes to an end. With some time delay, the crisis has reached the companies in the sector. Adjusted for inflation, revenues fell by 0.1% in the first five months of the year, the Austrian Institute for SME Research reported. In May the industry registered a minus of 2.3% which was the fourth highest decline among all EU…