German retail sales decline for third consecutive month

Retail turnover in Germany fell by 2% in March compared with February, marking the third straight month of decline and the sharpest drop since October 2022.

The steepest decline was recorded at fuel stations, where sales dropped by 5.6%, Caliber.Az reports, citing Handelsblatt.

Analysts from the Federal Statistical Office linked the overall downturn to rising inflation, which they say has been fueled by the ongoing military conflict between the United States and Iran.

Research institutes noted that consumer sentiment remains at its lowest level since winter 2023.

According to economists, there are currently no clear signs of an improvement in economic conditions.

By Bakhtiyar Abbasov