Overview

• The Ifo Institute reported a November business climate index of -22.1 for German retailers, an improvement of 3.1 points from the previous month and the second consecutive rise.
• Retailers remain cautious but are slightly more optimistic about the 2024 holiday sales period, citing gradual improvements in sentiment.
• The German Retail Association's (HDE) consumer confidence barometer also rose for the second month in a row, signaling a slow but steady recovery in consumer outlook.
• Persistent consumer spending restraint continues to weigh on the broader retail landscape, with no immediate signs of a robust rebound in private consumption.
• Price increases are anticipated in the coming months for food and furniture, while prices for cars and electronics are expected to remain stable, and bicycles may become cheaper.