Business climate in German retail clouds over, Ifo says

BERLIN (Reuters) – The business climate in the German retail sector clouded over in September, according to an Ifo survey published on Monday.

Retailers assessed their current situation as slightly worse than in the previous month and are more pessimistic about the coming months, the survey showed.

“Consumers are unsettled about the economic policy environment. That means that no further dynamic growth in private consumer spending can be expected for the rest of 2024,” said Ifo expert Patrick Hoeppner.

(Reporting by Maria Martinez, Editing by Friederike Heine)