The business climate in retail deteriorated further in January.
The companies surveyed by the Ifo Institute rated both the current business situation and business expectations for the coming months worse than in December. The business climate index fell by three points to -24.7 points, as the economic researchers announced on Tuesday.
Around 54 percent of retailers reported sluggish demand, 33 percent had difficulty recruiting skilled workers and over 20 percent were affected by delivery problems. “Reluctant consumers and a lack of skilled workers will probably continue to pose challenges for many retailers in 2024,” said specialist Patrick Höppner. (dpa)