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Retail

Greek Retail Sales Rose 10.1% In January, Study Finds

Greek retail sales rose by 10.1% in January, in value terms, according to a study by statistics firm ELSTAT, however future sales are likely to be impacted by the growing COVID-19 epidemic in the country.

The positive January performance compares to a 2.2% increase in December, and a 4.7% increase in November.

Volume sales were up 8.4% in January, which again is an improvement on a 0.6% increase in December and a 3.7% gain in November.

According to ELSTAT, retail sales were boosted by higher sales in the furniture, apparel, electrical appliances, cosmetics and pharmaceuticals markets.

Contracting Economy

However, this positive uplift is unlikely to be matched in the coming months, due to the impact of the coronavirus on the economy.

In March, finance minister Christos Staikouras said that he expects the Greek economy to contract by between 1% and 3% this year, compared to a previous forecast that the economy would grow by 2.8%.

© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine

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