Wholesaling (Germany):
Brighter business climate

In wholesaling the business climate brightened again somewhat after the clear worsening in the previous month. The current business situation was evaluated a little more positively by the enterprises, and excess inventories were clearly reduced. The six-month outlook is seen differently by various wholesalers. Confidence increased among wholesalers of consumer goods but industrial B2B wholesalers have lowered their expectations. This has also affected the order plans of the wholesalers: consumer goods wholesalers plan to increase their orders, but caution prevails in industrial B2B.