ECONOMY

Arts, events turnover fell 93% in April

arts-events-turnover-fell-93-in-april

The coronavirus pandemic dealt a heavy blow on enterprises, especially in April when many of them suspended activity and saw their turnover shrink by up to 97%, according to Hellenic Statistical Authority (ELSTAT) figures.

They revealed that companies in the sectors of arts and entertainment and of accommodation and food service saw their turnover slump by 93.3% and 85.5% respectively in April 2020 on an annual basis.

On the other hand there was a greater resistance by companies in the sectors of agriculture, forestry and fishing, which showed a far smaller reduction in turnover than other sectors, at 11%, while banking and insurance activities dropped only by 12.2% in turnover terms.

Among the corporations whose operation was suspended and for which monthly data are available, education recorded the smallest turnover drop by 21.9% in April.

The sector with the biggest yearly slump that month was film, video and TV production, and music recordings and publications, which contracted by a whopping 97.1%.