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Retail Trade: No Improvement Expected
After weak first six months, the Austrian retail sector hopes for increasing demand in the second half of 2011. Weak development of incomes reduces consumers’ willingness to spend.
Retail Trade: No Improvement Expected / Picture: © Vindobona.org
The enthusiastic mood in Austria’s retail industry has gone. The first half of the year brought a nominal plus of 2.8% and stagnation in real terms. With total revenues of € 24.5bn it was the weakest period since the beginning of 2009. Expectations for the next six months are not much better.
The Institute of Economic Research (Wifo) predicts a continuing economic upward…
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