BUSINESS

March retail sales drop 3.1 pct y/y

TAGS: Statistics, Retail

Greek retail sales by volume dropped 3.1 percent in March compared to the same month a year ago after a downwardly revised 2.5 percent increase in February, statistics service ELSTAT said on Friday.

Retail sales were led lower by books and stationary, fuels, lubricants and tobacco and food products, the data showed.

Greece's economy is expected to contract by up to 10 percent this year, according to government estimates, as the coronavirus pandemic has brought economic activity to a near standstill.

The government started to gradually lift lockdown measures on May 4.

[Reuters]            

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