Wholesaling: Developments Diverge

In wholesaling the business climate indicator dropped for the second month in succession. Although wholesalers remained largely very satisfied with their current business situation, the corresponding indicator declined. At the same time, survey participants expressed greater caution about their business expectations for the next six months. According to official data, nominal turnover in wholesaling rose by 7.2% in July. Almost 40% of wholesalers reported increases in turnover in October compared to the same period last year. At the same time, wholesalers’ turnover dropped by 30%, leading to a decline in the balance compared to the three previous months. The index for wholesale prices rose by 3.5% in September. According to the latest results, many wholesalers were able to raise prices in October, although increases were slightly less widespread than previously. Many wholesalers are also planning to increase their prices over the next three months. Fewer wholesalers reported expansive ordering plans, presumably due to the fact that inventories were recently more frequently assessed as too high. The number of employees rose by 1.5% in July, just as it did in the two previous months. Wholesalers still plan to recruit additional staff, but the corresponding indicator has declined over the course of the year.