BUSINESS

Greek retail sales rise 7.3 pct y/y in April

Greek retail sales by volume rose 7.3 percent in April compared to the same month last year, marking the strongest rise in more than two years after a downwardly revised 1.2 percent drop in March, statistics service ELSTAT said on Monday.

Athens and its international lenders expect private consumption to remain weak this year, despite an expected economic recovery of 0.6 percent, which is seen driven by tourism, investment and exports.

Hit by the country's deep recession and record unemployment, retail sales declined by about 40 percent in 2009-2013 as a result of austerity policies imposed under the terms of Greece's international bailout.

[Reuters]

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