Dr. Platon Monokroussos, Chief Market Economist, Deputy General Manager, Eurobank Ergasias S.A
Economic & Market Outlook – Focus Notes (Friday, January 29, 2016)
In November 2015 retail trade, as measured in both the turnover and volume indices, recorded a decrease both on an annual and on a monthly basis.
· The sharpest decreases on an annual basis were recorded in not-in-store retail sales, super markets and automotive fuel.
· On a monthly basis the categories that experienced the largest decreases in retail trade were in not-in-store retail sales and super markets. This is in concert with the consumer confidence indicator in November 2015 that fell by 4.5 index units compared to October 2015.
· Given that retail trade also contracted on an annual basis in October 2015 – both in turnover and volume terms – the decline in November 2015 signals a possible deterioration in private consumption in Q4 2015.
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GLOBAL FOCUS NOTE_Retail Trade in Greece_November 2015
