Retail sales in Greece increased by 3.3 percent year-in-year in September of 2018, slowing from an upwardly revised 3.6 percent gain in the previous month. It was the smallest increase in retail sales since July, mainly driven by sales of books, stationery & other goods (7.4 percent); supermarkets (5.9 percent); clothing & footwear (4.7 percent); automotive fuel (1.0 percent) and pharmaceutical products & cosmetics (-1.5 percent). On a seasonally adjusted monthly basis, retail trade went down 0.1 percent, after a downwardly revised 0.7 percent decline in August. Main declines were recorded in department stores (-3.8 percent) and pharmaceutical products & cosmetics (-2.4 percent). Retail Sales YoY in Greece averaged -0.63 percent from 2001 until 2018, reaching an all time high of 13.60 percent in December of 2006 and a record low of -19.40 percent in December of 2010.
Retail Sales YoY in Greece is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Greece to stand at 2.16 in 12 months time. In the long-term, the Greece Retail Sales YoY is projected to trend around 2.00 percent in 2020, according to our econometric models.