Greece Retail Sales Drop the Most in Over 3 Years

Retail trade in Greece declined by 9.8% year-on-year in February 2024, the steepest drop since December 2020, following an upwardly revised 9.6% fall in the previous month.

Sales tumbled for all subcategories, led by department stores (-20.3% vs -20.8%), books, stationery & other goods (-15.3% vs -11.8%), automotive fuel (-9.6% vs 5.9%), food, beverages & tobacco (-8% vs -8%), supermarkets (-6% vs -6.8%), pharmaceutical products & cosmetics (-4.5% vs -7.6%), furniture, electrical & household equipment (-6.4% vs -23.2%), and clothing & footwear (-0.9% vs -6.6%).

On a seasonally adjusted monthly basis, retail activity decreased by 3.8% in February, following a downwardly revised 4.3% decline in the prior month.