Favorable Employment Situation Drives German Textile Retail Market To Flourish

2010/11/19 17:40:00 48

In view of Germany's current good

Employment situation

And declining

unemployment rate

German business associations have expressed confidence in the market outlook for next year or even the following year.

Although the government's reduction in unemployment benefits affects some people's consumption, general wage increases and full employment will boost overall consumption sentiment.

German Retailers Association

(HDE) the chairman is pleased to say that the growth of German retail sales this year will be close to 2%. Next year, the German retail market will continue the current active atmosphere, increasing at least 1%.

The chairman of the German Institute of Economic Research (IW) also believes that the labour market situation is a decisive factor affecting private consumption.

By 2012, unemployment will continue to decrease in Germany, creating an excellent condition for the development of the retail industry.

The deputy director general of the German textile Retailers Association (BTE) said that sales of footwear and clothing in Germany increased by more than 4% in the first half of October this year, and this remarkable growth has not been seen in Germany for a long time.

Online shopping also keeps growing in the retail sector. Chairman HDE believes that Internet sales will continue to grow at two digits in the next few years.