Retail data show decline in consumption in May
Retail business data for May points to a decline in consumption despite an increase in turnover, per figures released by the Hellenic Statistical Authority (ELSTAT) on Tuesday.
This is because even though this year Easter fell in May, unlike in 2023 when it was in April, there was a very small increase in retail trade turnover of just 3.1% compared to May 2023, which can be largely attributed to inflation.
Moreover, it is impressive that in May the turnover in retail trade fell compared to that of April. According to the data from retail businesses with an obligation to publish their figures on a monthly basis, turnover amounted in May to 3.72 billion euros against €3.61 billion in May 2023, registering an increase of 3.1%.
Compared to April 2024, when the turnover in the retail trade was set at €3.84 billion, there was a decrease of 3.3%.
