Greece: Retail trade in September 2015 (Monday, November 30, 2015)

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

Economic & Market Outlook – Focus Notes (Monday, November 30, 2015)

Greece: Retail trade September 2015 

• In September 2015 the seasonally adjusted volume index in retail trade decreased 1.4% compared to August 2015 and 3% compared to September 2014.
• The seasonally adjusted turnover index in retail trade decreased 1.7% compared to August 2015 and 5.1% compared to September 2014.
• Some factors that could have contributed to slow retail activity in this period were the political uncertainty ahead of the September 20^th snap general election, the expectation of new fiscal measures following the August 14^th ESM loan agreement and the ongoing effect of capital controls.
• Decreased retail trade was also reflected in the September 2015 consumer and retail confidence indicators, which both remained at low levels, at -64.2 (second lowest reading since November 2013) and -20 respectively (third lowest reading since October 2013).

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GLOBAL FOCUS NOTE_Retail Trade in Greece_September 2015