Re­tail sales post rise but de­posits take a hit

Kathimerini English - - Focus -

Greek re­tail sales by vol­ume rose 2.2 per­cent in Septem­ber com­pared to the same month last year, after a down­wardly re­vised 7.3 per­cent in­crease in Au­gust, the coun­try’s statis­tics ser­vice ELSTAT said yes­ter­day. Sales vol­umes rose for the fourth month in a row, point­ing to a boost in con­sumer spend­ing in the third quar­ter as the econ­omy re­cov­ers from a pro­tracted slump. Hit by the coun­try’s deep eco­nomic slump and record un­em­ploy­ment, re­tail sales de­clined by about 40 per­cent in the 20092013 pe­riod, driven by aus­ter­ity poli­cies im­posed un­der the terms of Greece’s 240-bil­lion-euro bailout set by the Euro­pean Union and In­ter­na­tional Mon­e­tary Fund. How­ever bank de­posits dropped slightly in Oc­to­ber after ris­ing in the pre­vi­ous seven months, cen­tral bank data showed yes­ter­day. Business and house-

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