Greece: Retail Trade August 2015 (Friday, October 30, 2015)

Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A

Global Economic & Market Outlook – Focus Notes (30 October 2015)

The Hellenic Statistical Authority released on October 30th 2015, provisional data regarding retail trade in Greece in August 2015.

Key points:

• Retail trade in August 2015 recorded a decrease on an annual basis but partially recovered on a monthly basis.
• The improvement in retail trade in August 2015 compared to July 2015 stands in contrast to the deterioration of the consumer confidence indicator (monthly change -11.9 index units),  the retail trade confidence indicator (monthly change -5.1 index units) and the economic sentiment indicator (monthly change -6.1 index units) for the same period.
• Therefore, the improved retail sales in August 2015 compared to July 2015 could be attributed to the strong performance of tourism with travel receipts recording an increase +18.2%mom.

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GLOBAL FOCUS NOTE_Retail Trade in Greece_August 2015