BUSINESS

Retail sales in Greece drop 6.6 pct y-o-y in Feb

TAGS: Business

Greek retail sales by volume dropped 6.6 percent in February compared to the same month a year ago after an upwardly revised 1.7 percent decline in January, statistics service ELSTAT said on Thursday.

Retail sales were led lower by fuels, electrical appliances, books, paper products, apparel and footwear, the data showed.

Data on gross domestic product have shown some resilience in Greek consumer spending, which grew 0.4 percent in last year’s final quarter compared to the previous three-month period.

Tax hikes and capital controls, imposed at the end of June to stem a flight of deposits, have weighed on the sector.

The biggest fall in retail sales last year was recorded in July when volumes fell 7.2 percent.

[Reuters]

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