The Ifo business climate in retail fell to minus 23.0 points in the current Christmas business, after minus 22.2 points in November.
Retailers assess their current situation somewhat worse than in the previous month. Their business expectations for the next six months also fell slightly. The overall economic environment is likely to remain difficult in 2025, says Ifo expert Patrick Höppner.
Rising incomes could provide positive impulses, but economic policy uncertainty is putting a strain on retailers and consumers.