BUSINESS

Retail sales rise 9.6 pct in February

TAGS: Economy

Greek retail sales by volume rose 9.6 percent in February compared to the same month a year ago after a 0.1 percent decline in January, statistics service ELSTAT said on Friday.

Retail sales were led higher by foods, tobacco, department stores, supermarkets, books, furniture and household appliances, the data showed.

Data on gross domestic product showed Greece’s economy contracted from October to December after two straight quarters of growth, with its performance in the last quarter of 2016 turning out worse than expected.

The seasonally adjusted data showed a 1.2 percent decline in economic output in the fourth quarter.

The long delay in concluding a bailout review has sparked uncertainty, weighing on economic activity in the first quarter.

[Reuters]

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