BUSINESS

Retail commerce looks up after seven years

DIMITRA MANIFAVA

TAGS: Economy

Retail commerce is expected to see its 2017 turnover post an annual rise – the first in eight years – although this will by no means cover any of the losses amassed and estimated at tens of billions of euros.

The “Hellenic Commerce Report 2017,” drafted by the Hellenic Confederation of Commerce and Enterprises (ESEE) and presented yesterday, showed that in the first nine months of last year all indices headed higher, which according to the market view is expected to have extended to the last quarter of 2017 too.

The turnover index and that of sales volume in fixed prices in retail commerce recorded respective increases of 2.3 percent and 1.9 percent. While not exactly anaemic, such growth does not bring the market anywhere near pre-crisis levels. From 2009 to 2016 turnover recorded a contraction of 29.1 percent.

The sector’s employment figures also painted a positive picture, expanding by 5.2 percent year-on-year or 33,553 jobs in January-September. At the same time the number of company closures remained high, and there were cases of enterprises that opened and shut within just six months.

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