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May Experienced 3.8% Greek Retail Purchase Decline

An ELSTAT study confirmed that retail purchases by volume decreased in Greece by 3.8% in May, compared to last year's same month, after experiencing a 7.1% increase in April.

It has been reported that Athens and its global lenders predict private acquirements to remain frail for the remainder of 2014, even with a forecasted 0.6% financial stride, as a result of tourism, exports and investments, as reported by Kathimerini.

Due to Greece's economic turmoil from 2009-2013, retails dropped approximately 40%, as a result of austerity mandates enforced in Greece.