Retail Trade: No Improvement Expected

BusinessEconomy ♦ Published: July 27, 2011; 23:10 ♦ (Vindobona)

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…