The market has been on a downward trend for six months. German carmakers posted an 18% increase. Lower profits than in 2023. Meanwhile, residential construction sales fell by more than 12%. Many Germans are refraining from shopping, and every second retailer is complaining about falling sales. The number of orders in the automotive sector fell for the 17th month in a row.
According to the Ifo economic research institute, “a significant recovery in retail trade is unlikely in the second half of the year.”
Meanwhile, one of the main macroeconomic indicators of the German economy, the ZEW index, recently reached its lowest result in two years. Businesses are also preparing for the deepening crisis by stockpiling essential products.
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