VIENNA, Nov. 29 (Xinhua) -- The Austrian retail industry is expected to have a strong Christmas season on the back of an improving domestic economy, a leading economic institute has claimed.
In a statement on Wednesday, the Austrian Institute of Economic Research (WIFO) said it anticipates a four-percent increase in Christmas spending compared to 2016.
For December alone it expects a total 6.33 billion euros (7.5 billion U.S. dollars) in total revenue. This would be 1.29 billion euros or 25 percent more revenue than the monthly average measured across the whole year.
The anticipated spending boost follows an already-positive 2016 Christmas season, when a 2.9-percent boost in revenues was seen. Enditem