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Daily digit: Greek retail sales slump

Monday, 31 Dec, 2012 - 00:47

Dec.31 - Sales in Greece's retail sector have fallen 18.1% as deep recession and record-high unemployment take their toll on consumer spending. Sonia Legg reports

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18.1 percent is today's daily digit in Europe - the amount Greek retail sales fell year-on-year in October. The drop was the steepest in almost two years. The figures were announced shortly after thousands of shop workers took to the streets over Sunday trading. Scuffles broke out with the police amid the pouring rain. The retailers say no-one has any money to shop every day and the law allowing premises to open on some Sundays leaves them with fewer rights. But Greece's government believes limited Sunday trading can boost sales at a time when the country needs all the help it can get. The economic slump looks set to continue for a sixth year in 2013 with national output shrinking by 4.5 percent.

Daily digit: Greek retail sales slump

Monday, 31 Dec, 2012 - 00:47