Retailing: Growth in Turnover Slows

The business climate indicator for retailing rose in September. Retailers were far more satisfied with their current business situation, although their turnover barely exceeded the results for the same period last year. As far as business expectations are concerned, the confidence expressed in the second quarter waned and retailers turned sceptical to varying degrees in the third quarter. Pressure due to high inventories has been rising steadily since June, with order plans for September scaled back in many instances as a result. Survey participants expect greater scope for price increases in the months ahead. They also plan to recruit additional staff.