This seems to be a day with lots of economy news. Bad news. Then the recession is digging deep in our lives. It’s just that the official data confirm our daily experiences. Greek Statistics ELSTAT released data showing a decline at double-digit rates in sales and turnovers in retail trade. The recession is here and Greeks have cut sharply their consumption.
As announced on Thursday ELSTAT, the volume index, along with the fuel, fell in January by 16% versus 6% growth recorded in the corresponding month of 2010. Last December, it had fallen 19.2%.
Without the fuel sector, consumption dropped by 14.8% compared with a year earlier.