German retail sales dip again: official study

BERLIN, April 3 (Xinhua) -- Revenue in the German retail sector has fallen for the third month in a row, official figures published by the Federal Statistical Office showed Tuesday.

According to the Wiesbaden-based government office, retail revenue declined by a surprising 0.7 percent in both real and non-price-adjusted terms in February.

Commenting on the findings on Tuesday, however, Alexander Krueger, chief economist at Lampe private bank, did not perceive a substantial "risk to economic momentum" from falling retail revenue. The sector's performance merely showed that German growth was "not without limits."

On an annual basis, retail sales were still up 2.5 percent in February. Pharmaceutical, medical and cosmetic products in particular contributed to this trend with a growth rate of 4.6 percent. By contrast, online and mail-order retail businesses only grew by a comparably modest 0.5 percent between February 2017 and February 2018.

Seemingly unperturbed by the Federal Statistical Office's official figures, the German Retail Association (HDE) told press on Tuesday that it expected a stable development in private consumption during the spring of 2018.

Citing a recent survey of income expectations, HDE President Josef Sanktjohanser highlighted that consumer sentiment remained at "a very high level" in Germany.

"The favorable wider economic picture allows citizens to look to the future with optimism," Sanktjohanser said. Enditem