As early as the first quarter of 2023, Union Investment’s Global Retail Attractiveness Index (GRAI) showed tentative signs of recovery in individual European retail markets.
This recovery gained strength and breadth in the second quarter. After the trend pointed upward in the first quarter for six of the 15 European countries included in the GRAI, eleven countries posted year-on-year gains in the second quarter. The increases were particularly significant in the UK, Poland, Spain and Italy, with nine and ten points respectively. Within a year, the Retail Index for Europe has risen by almost six points to a good level of 113 points.
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