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Retailing: Hopes for an upswing disappointed – investment activity continues to shrink

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  • Manuel Birnbrich

Abstract

The expected economic upswing has still not been felt by German retailing. According to the Federal Statistical Office sales in 2003 fell by 0.5% in nominal terms and by 0.6% in real terms for the second time in succession. In the first four months of 2004, retailers reported a sales decline over the comparable previous-year period of 1.3% in nominal terms and 1.0% in real terms. The tax reform at the beginning of the year, which provided higher disposable income to most households, has not led to a revival in retail sales. Consumption of private households, which had already dropped in the past two years measured in 1995 prices, fell slightly in the first quarter of 2004 by 0.1%. According to the plans of firms that participated in this year’s Ifo Investment Survey, retail investments this year will again be lower than the previous year, although the decline will not be as marked as last year.

Suggested Citation

  • Manuel Birnbrich, 2004. "Retailing: Hopes for an upswing disappointed – investment activity continues to shrink," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(14), pages 24-27, July.
    • Handle: RePEc:ces:ifosdt:v:57:y:2004:i:14:p:24-27
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    References listed on IDEAS

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    1. Arbeitsgemeinschaft deutscher wirtschaftswissenschaftlicher Forschungsinstitute, 2004. "The State of the World Economy and the German Economy in Spring 2004," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 57(08), pages 03-46, April.
    2. Unknown, 2004. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Fruhjahr 2004," Report Series 26111, Hamburg Institute of International Economics.
    3. Arbeitsgemeinschaft deutscher wirtschaftswissenschaftlicher Forschungsinstitute, 2004. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Herbst 2004," HWWA Reports 248, Hamburg Institute of International Economics (HWWA).
    4. Uwe Christian Täger, 2003. "Structural change in retailing and wholesaling intensifies," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 56(11), pages 10-21, June.
    5. Arbeitsgemeinschaft deutscher wirtschaftswissenschaftlicher Forschungsinstitute, 2004. "Frühjahrsgutachten: Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Frühjahr 2004," Wirtschaft im Wandel, Halle Institute for Economic Research (IWH), vol. 10(6), pages 139-195.
    6. Arbeitsgemeinschaft deutscher wirtschaftswissenschaftlicher Forschungsinstitute, 2004. "Die Lage der Weltwirtschaft und der deutschen Wirtschaft im Frühjahr 2004," HWWA Reports 243, Hamburg Institute of International Economics (HWWA).
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    More about this item

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

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