WEST GERMAN GROWTH
STIRS INFLATION CONCERNSFRANKFURT, West Germany - West German inflation could be the source of monetary problems if the West German economic boom continues, Bundesbank President Karl Otto Poehl told a group of foreign journalists Wednesday.
Mr. Poehl said the current rate of economic growth in West Germany is ''stronger than anyone would have predicted," but up to now "has not had a great influence on prices."
The current inflation rate of 3.1 percent in the year to May was ''satisfactory" because there are many outside factors, such as oil prices and consumer tax increases, Mr. Poehl said.
APRIL RETAIL SALES
UP 2.3 PERCENT IN CANADA
OTTAWA - Canada's seasonally adjusted retail sales in April totaled C$14.43 billion, up 2.3 percent from March's revised C$14.11 billion, Statistics Canada reported Wednesday.
The government said April's increase contrasts sharply with the downward trend observed in the first three months of 1989, when sales declined on
average by almost 0.5 percent on a monthly basis.
Stats Canada reported that the April increase was broadly based, with 23 of the 28 component trade groups recording higher sales.
By order of dollar impact, the April increase was led by automotive dealers, up 4.7 percent, and general merchandise stores, up 7 percent. Department store sales increased for the third month, up 1 percent in April.
ITALIAN GDP CLIMBED
3.6 PERCENT IN FIRST QUARTER
MILAN, Italy - Italy's gross domestic product grew by 3.6 percent in the first three months of this year, the government economic survey center ISCO said Wednesday.
Meanwhile, the national statistics institute Istat released figures showing sales of manufactured goods up 15.3 percent in the first two months of this year compared to the same period. Domestic sales were up 15.6 percent and exports up 14.8 percent.
DANISH RETAIL PRICES
INCREASED 0.7 PERCENT IN MAY
COPENHAGEN, Denmark - Retail prices in Denmark rose 0.7 percent in May, with a year-on-year rise of 4.8 percent, the national statistics institute said Wednesday.
Prices rose 0.6 percent in April.
BANK FORECAST PREDICTS
SLOWER SWISS GROWTH
GENEVA - Switzerland's gross domestic product is likely to expand 2 percent in 1990, compared with 2.7 percent this year and 3 percent in 1988, the Swiss Bank Corp. predicted Wednesday.
Inflation should rise to 3.8 percent from 3.5 percent this year and 1.9 percent last year, Switzerland's second-largest bank said in a report on the state of the national economy.