Consumer sentiment in Germany continues to recover in August

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BERLIN, Aug. 3 (Xinhua) -- Consumer sentiment in Germany remained on a "path to recovery" in August following the severe slump at the beginning of the COVID-19 crisis, the German Retail Federation (HDE) announced on Monday.

However, the pace of the recovery was believed to be decelerating compared with last month, according to the monthly HDE survey on consumers' propensity to buy and save, their financial situation and other consumption-related factors among 2,000 people.

Overall, the HDE consumption barometer in Germany was still well below the level of the previous year. HDE noted that "the return of the economy and consumption to pre-crisis levels will take more time than many initially expected."

Consumers in Germany expected an economic upswing for the time being and their propensity to save was declining, the HDE survey showed.

Two weeks ago, HDE announced that sales of non-food retailers in Germany were expected to fall by 40 billion euros (47 billion U.S. dollars) this year.

On Monday, Federal Minister for Economic Affairs and Energy Peter Altmaier told the German Press Agency (dpa) that plans to "revitalize" the country's city centers were needed.

Since the COVID-19 pandemic, more deals have been made on the internet. "We have to help shop owners in the city centers to digitize their customer relationships in a way that also benefits fashion and shoe shops," Altmaier stressed. Enditem

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