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TABLE-Greek retail sales drop eased in May, helped by tourism
July 31, 2013 / 9:19 AM / 4 years ago

TABLE-Greek retail sales drop eased in May, helped by tourism

ATHENS, July 31 (Reuters) - The decline in Greek retail
sales markedly decelerated in May, as a  bumper tourism helped
offset the country's biting recession, data by statistics
service ELSTAT showed on Wednesday.
    Retail sales by volume declined by 2.2 percent year-on-year
from a revised 14.5 percent drop in the previous month. That was
their slowest pace of decline since September 2011, according to
the figures.
    "Tourism increased significantly in May, retail sales were
also helped by the fact that (Orthodox) Easter fell in May this
year," Nikos Magginas, an economist with National Bank, told
    Hit by the country's record, austerity-fuelled recession,
retail sales by volume fell 12 percent in 2012, bringing the
sector's total contraction in 2009-2012 to 34 percent.
   Retail sales*     
   by volume (y/y)   -2.2   -14.5** -5.8** -14.1   -16.8  
   Retail sales*   
   by revenue (y/y)  -2.6   -14.9** -5.9   -14.1   -16.6 
   * Includes fuels and auto lubricants 
   ** revised 
   source: ELSTAT

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