DATA SNAP: Greek February Retail Sales Down 11.8% On Year
Greek retail sales volume fell at an annual rate of 11.8% in
February, data from the Hellenic Statistical Authority showed
Monday, as consumer spending slumped and the Greek economy
continued to deteriorate.
The figures, which are adjusted for inflation and don't include
volatile fuel sales, were broadly in line with January's downwardly
revised 10.5% decline, confirming a deteriorating trend since last
With the economy now in its fifth year of recession, the
February figures showed Greeks sharply paring back their spending
on a range of items from clothing and footwear, which fell by 29%,
to a 19.2% decline in department store sales.
Taking into account automotive fuel sales, the volume of retail
trade fell 13.0% in February after a revised 10.6% fall in January,
the statistics office said.
-By Alkman Granitsas, Dow Jones Newswires; +30 210 373 1774;