Retail sales in Greece increased 3.2 percent year-on-year in November of 2018, following an upwardly revised 4.1 percent drop in October. Sales rebounded for both food (4.4 percent compared to -3.4 percent in October) and non-food (0.7 percent compared to -5.3 percent) and fell less for auto fuel (-0.5 percent compared to -9.2 percent). Also, sales increased the most for books, stationery and other goods (7.2 percent). On a seasonally adjusted monthly basis, retail sales increased 3.5 percent, following a 3.7 percent fall in October. 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 1.70 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.