Retail sales growth in Germany's residential areas and suburbs has grown strongly, while spending in city centers remain below the pre-pandemic levels as many people continue to work from home, results of a study by the ifo Institute showed Monday.
The ifo study covered locations in Berlin, Munich, Hamburg, Stuttgart and Dresden. The study found that private spending in the city center was still 5 percent lower than in 2019, Oliver Falck of the ifo Institute, one of the co-authors of the study, said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.