BUSINESS

Enthusiasm for winter sales dampened by uncertainty, higher taxes

DIMITRA MANIFAVA

TAGS: Economy

Turnover at the vast majority of stores in Athens is down by more than expected this winter sales period.

Data from a survey conducted by the Athens Traders Association confirm the general sense that consumer demand has dropped considerably in the first couple of months of the year.

With the sales set to end on Tuesday, 78 percent of store owners said turnover was down compared to last year, while just 3 percent reported an increase.

The phenomenon is attributed to the climate of financial uncertainty since the start of 2017 due to the delays in the second bailout review, as well as the increased taxation.

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