ECONOMY

Greek retail sales slip 6.4 pct y-o-y in May

Greek retail sales slip 6.4 pct y-o-y in May

Greek retail sales by volume dropped 6.4 percent in May compared to the same month a year ago after a downwardly revised 2 percent slide in April, statistics service ELSTAT said on Friday.

Retail sales were led lower by fuels, lubricants, apparel, footwear and supermarkets, the data showed.

Data on gross domestic product showed weakness in consumer spending in the first three months of the year, when the economy contracted by 0.5 percent compared to last year’s fourth quarter.

Consumption declined 0.5 percent quarter-on-quarter in January-to-March. Tax hikes and capital controls have weighed on the sector.

[Reuters]

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