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German retail business climate slightly improves in May 2024: ifo

04 Jun '24
1 min read
German retail business climate slightly improves in May 2024: ifo
Pic: Adobe Stock

Insights

  • Germany's retail business climate slightly improved in May 2024, with the ifo index rising to minus 13.3 points from minus 14.5 in April, showing marginally better expectations.
  • However, the outlook remains pessimistic, and the current business situation assessment stayed at minus 2.1 points.
  • Prices are anticipated to rise in the short term.
The business climate in Germany's retail sector saw a slight improvement in May 2024, according to the latest survey by the ifo Institute. The index rose to minus 13.3 points, up from minus 14.5 points in April 2024, indicating marginally better business expectations.

However, the outlook for retailers remains pessimistic. The indicator for assessments of the current business situation remained unchanged at minus 2.1 points. Despite the upcoming European Football Championship, no significant sales boost is expected for the retail sector. Additionally, many retail businesses anticipate that prices will continue to rise in the short term, as per the ifo Business Survey.

ALCHEMPro News Desk (DP)
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