The latest ELSTAT data documents a 15.7% drop in retail sales for January (not including fuel), which is attributed to the financial recession and the dramatic reduction of income.
Indicative of the situation was the 14.8% drop in the sale of food. Equally large drops were noted in the sale of furniture and white goods (18.1%), pharmaceuticals and make-up (18.7%), fuel (19%) and books-paper (7.7%).
ELSTAT noted that that compared to January 2012, the Turnover Value Index (including fuel) dropped 16.2%, compared to an 8.8% that was noted compared to last year. Likewise, the Volume Index including fuel shrunk by 16.4%, compared to a 10.6% drop the previous year.
