Retail is in big trouble – customers are keeping their money together (icon image) Photo: picture alliance / ASSOCIATED PRESS
By Isabel Pancake
The economy in the capital is trembling before winter – for the third time!
In a press release on the current economic report, the Chamber of Crafts and Industry and Commerce (IHK) speak of a “dramatic overall situation”.
Biggest concern: retail and hospitality. Consumer behavior is particularly cautious because of the energy crisis. Around every second retail company even expects the current situation to deteriorate further.
Even worse in hospitality! Here, 71 percent expect their situation to deteriorate.
And the skilled trades are complaining about massive price increases for energy and raw materials. Car and food companies in particular do not expect an improvement in the near future.
Jürgen Wittke, General Manager of the Chamber of Crafts: “Now it’s a matter of formulating the hardship regulations for the craft businesses in a targeted manner so that, for example, bakeries and dry cleaning companies can get through the winter unscathed.“
Only the construction industry is currently still benefiting from the large order backlog.