Tuesday September 30, 2014 Search
Weather | Athens
26o C
17o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Easter shopping helps Greek retail sales post biggest rebound in 2 years

Retail sales in Greece rebounded in April, data showed on Monday, with Easter shopping helping to post the strongest rise in more than two years.

Retail sales by volume rose 7.3 percent year-on-year after a downwardly revised 1.2 percent drop in March, according to statistics service ELSTAT.

Data showed the increase was driven mainly by strong apparel, footwear and supermarket sales.

Greek economic data have begun to show signs of a turnaround in recent months after a six-year recession that depressed incomes and drove down consumer spending.

ELSTAT data showed April sales enjoyed the highest percentage rise since the agency began tracking the figure in 2012, and National Bank economist Nikos Magginas said it represented the sharpest increase in more than four years.

The improvement in consumer confidence, stronger tourism and the coincidence of the Orthodox and Catholic Easter holiday brought about the best retail sales reading since March 2010, he said.

Improved consumer confidence and the momentum in tourism should continue to positively affect consumer sales in the coming months.

Hit by austerity policies imposed by the European Union and International Monetary Fund who bailed out Greece, the economy has shrunk by almost a quarter over six years, suffering its most protracted recession since World War Two.

A key factor in the decline has been a 26 percent slump in household consumption as record unemployment and wage cuts slashed disposable incomes, with investment also falling sharply.

But first-quarter gross domestic product data have shown a positive contribution from consumption, which rose 0.8 percent year-on-year, supporting projections that the economy will emerge from recession this year.

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

[Reuters]

ekathimerini.com , Monday June 30, 2014 (18:47)  
Attica Bank says optimistic about plan to raise cash
Eurozone inflation numbers pile more pressure on ECB
Greek unemployment dips to 27 pct in June, but still highest in EU
EU gives more aid to farmers hurt by Russia sanctions
Degas painting valued at 6 million euros stolen from Cypriot pensioner
Thieves have stolen a painting by French master Edgar Degas valued at 6 million euros ($7.6 million) from the home of a 70-year-old Greek Cypriot, Cyprus police said on Tuesday. The painting...
Elderly man dies while waiting to pay property tax
An elderly man died in Thessaloniki on Tuesday after collapsing at a bank while waiting in line to pay the ENFIA property tax, the Athens-Macedonia News Agency reported. The unnamed man, bel...
Inside News
SOCCER
All team sports suspended next weekend in memory of dead fan
The government announced on Monday the suspension of all team sports events in Greece scheduled for next weekend, October 4 and 5, in the memory of the Ethnikos Piraeus fan who died a few ho...
SOCCER
Karamanos punishes Michel for deeming him surplus
Atromitos forced Olympiakoss first loss this season in all competitions on Saturday to allow PAOK to go alone on top of the Super League table on Sunday. Odds-on title favorite Olympiakos l...
Inside Sports
COMMENTARY
Next-day jitters
It is usual for Greek governments, whether one-party or coalitions (which are normally loath to actually work together), to claim that their only real challenge is dealing with the countrys...
EDITORIAL
No sweet debt deals
The lions share of Greeces debt is held by European Union member states and the International Monetary Fund. A writedown of the European part of the debt would require the approval of the ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Attica Bank says optimistic about plan to raise cash
2. Degas painting valued at 6 million euros stolen from Cypriot pensioner
3. Eurozone inflation numbers pile more pressure on ECB
4. Elderly man dies while waiting to pay property tax
5. Three teens questioned over video showing torture of dog
6. Greek unemployment dips to 27 pct in June, but still highest in EU
more news
Today
This Week
1. Next-day jitters
2. Roma camp off Mesogeion Avenue set for demolition amid reactions
3. No sweet debt deals
4. Commissioner-designate Avramopoulos to face three-hour interview on EU's migration portfolio
5. Roma camp evacuation postponed; flow resumes on Mesogeion Avenue
6. EU gives more aid to farmers hurt by Russia sanctions
Today
This Week
1. Alexander the Great's tomb not at Amphipolis, says Culture Minister
2. Greece may opt for unusual president to avoid snap polls, Venizelos says
3. Woman allegedly buried alive by accident in northern Greece
4. Salaries in Greece continue to slide, dipping 1.4 pct in Q2
5. Venizelos denies jihadis are being trained in Greece
6. Should you bet with Kissinger on where the world is heading?
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.