Wholesale: Low Expectations

The business climate in wholesaling deteriorated in July. Although respondents rated their current business situation more favourably than in the previous month, they were more reserved in terms of the six-month business outlook. For the first time since November 2014, a more unfavourable business outlook prevailed. According to the Federal Statistical Office, nominal turnover grew by 6.9% in April. The strongest growth was recorded in the B2B sector (8.2%). Also in the current survey, the respondents were very satisfied with their sales compared to the same month last year. An increase in selling prices, which were put through in many places, could have played a role here. Price increases are planned for the next three months. In June, the wholesale selling price index increased by 3.4%. Although inventory overhangs grew, slightly more participants plan, on balance, to expand order volumes. The number of employees is also expected to increase. Between January and April, the number of wholesale employees grew by 1.7%.