ECONOMY

Wholesale trade posts increase for a second quarter in a row

Turnover in Greek wholesale commerce recorded a rise for a second consecutive quarter in the period from July to September, Hellenic Statistical Authority data showed on Wednesday.

The ELSTAT figures showed an increase of 1.3 percent from the same period in 2013. The significance of this reading becomes clear when one considers that the index had declined by 11.1 percent in Q3 of last year compared to 2012.

This was also the first time there have been two consecutive quarters of growth after 20 quarters of contraction.

The increase explains the entry of the Sklavenitis supermarket chain into the cash & carry market.