Greek retail sales fall 2.5 pct year on year in October
Greek retail sales by volume fell 2.5 percent in October compared to the same month a year ago, led lower by fuels, lubricants, cosmetics and drugs, statistics service ELSTAT said on Thursday.
Data on gross domestic product have shown some resilience in Greek consumer spending, which declined by only 1.0 percent in the third quarter when the economy shrank by 0.9 percent quarter-on-quarter.
Tax hikes and capital controls that were imposed at the end of June to stem a flight of cash from banks by depositors unnerved by a stalemate in talks with international lenders have weighed on the sector.
The biggest fall in retail sales this year was recorded in July at 7.2 percent.
Sales volumes had risen for five months in a row through to October 2014 on a pick up in consumer spending, as the economy showed signs of improving after a protracted recession.
But the trend was reversed by political uncertainty during acrimonious talks with the country’s international lenders towards the end of last year.
You may be interested
Lotto results: 15/12/2018Panos - Dec 15, 2018
The winning numbers from the Lotto draw are as follows:
Prespes Agreement: Government in turmoil after expulsion of Deputy Foreign Minister Quick from ANELmakis - Dec 14, 2018
The Prespes Agreement with FYROM is proving to be an insurmountable obstacle for the coalition government, as Deputy Foreign Minister…
Greeks lost nearly 1/4 of their income during economic crisis, Eurostat data showsmakis - Dec 14, 2018
Greeks saw nearly a quarter of their average annual income vanish as a result of the economic crisis that hit…