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Greek Statistics: Dramatic Decrease in Consumption!

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.

In a double-digit rates is the decline in sales and turnover in retail trade since the deep recession of the Greek economy has dropped sharply to private 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.

 
 In individual categories, sales fell by
 9% in supermarkets
 2.2% at department stores 
 25.5% in fuels and lubricating vehicles
 16.2% in food, beverages and tobacco
 22; 9% in pharmaceutical-cosmetics
 25.3% in apparel, footwear
 20.6% in furniture, electrical goods and household equipment 
 7.2% on books and stationery.

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