ECONOMY

Greek May retail sales fall 2.4 pct, led by departments stores, foods

greek-may-retail-sales-fall-2-4-pct-led-by-departments-stores-foods

Greek retail sales by volume declined 2.4 percent in May compared to the same month last year after a downwardly revised 2.6 percent fall in April, statistics service ELSTAT said on Wednesday.

Retail sales were led lower by department stores, food and beverages, pharmaceuticals and cosmetics, the data showed.

Greece’s economy expanded in the first three months of the year after shrinking slightly in last year’s final quarter, driven by consumer spending and a pick-up in investments, although a slow-down in Europe made falling exports a drag.  [Reuters]