Retail expectations would be more pessimistic than ever. “The much-vaunted crisis resistance of the Christmas business is beginning to falter this year,” said the JKU, with reference to “surveys among managers in the EU retail trade”.
“The expectations in retail for the business situation in the coming months have never been as bad at this time of year as they are this year – not even in the Covid 19 pandemic years 2020 and 2021,” the study authors explain. The bleak prospects for the coming months (including the Christmas business) would not only be evident in the domestic retail trade, but in almost all EU-27 countries. “It’s worrying that the retail trade is seen as the seismograph of the economy as a whole, and that doesn’t bode well for the coming months,” says retail expert Ernst Gittenberger from the JKU.
Source: Nachrichten
