The retail sector’s turnover fell in August 2016, Greece’s statistical bureau (EL.STAT) announced on Monday, confirming the downward trend throughout the year.
Turnover, both in terms of volume and value, fell during a month usually considered as the height of the annual tourism and holiday season, compared to both the corresponding month of 2015 and the previous month, July 2016.
The figures come after an impressive increase in retail turnover in July 2016, while preliminary estimates for September 2016 also point to a further decrease. At present, it remains to be seen whether the negative retail numbers will affect third quarter 2016 GDP figures, given that both the government and institutional creditors have forecast a return to growth, albeit marginal, in the second half of the year.
Specifically, the general retail turnover index in August, yoy, fell by 3.1 percent, and was down 1.8 percent, mom.
