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Retail Trade: No Improvement Expected
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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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