Following the global economic crisis, Germany’s GDP slowed down considerably in 2008 and as the economic woes hit home, GDP shrank in 2009. The recession hitting the country was, however, not a reflection of consumers’ weaker spending power but more of the strong dependence on exports to other countries. Therefore, with major retailers coming up with price offers to anticipate weaker demand, consumers responded well to the deals which resulted in still positive, albeit slower, volume growth of
May 2011
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$2,400|
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