Retail sales nosedive by 8.7 pct in July amid capital controls

EconomyMacroeconomy Tags: ELSTAT, Retail

The turnover of Greece’s retail trade index fell sharply by 8.7 percent in July, after a 1.7 percent drop in June, the Hellenic Statistical Agency (ELSTAT) said on Wednesday.

On the flipside, two store categories posted a MoM rebound, namely department stores (+7.6 percent) and clothing and footwear (+0.3 percent). The latter is probably due to the summer sales that started in mid July.  

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