Greek retail turnover improves but most consumers cautious

Eight years into the debt crisis which has shaken Greek economy and dramatically changed Greeks' everyday life, positive financial indexes and retail turnover results indicate that Greece is recovering. Athens and international creditors are set to celebrate the exit from the bailout era next summer.

Nevertheless, accustomed to the austerity mode and still uncertain about the next day, cash strapped Greek consumers strolling in the center of Athens these days remain rather conservative in their Christmas shopping despite the bright festive lights.

Christmas holidays' turnover traditionally represents about one quarter of the total year's revenues for retailers, according to the Hellenic Confederation of Commerce and Entrepreneurship (BSEE).

"2017 ends with marginally upward trend for the retail sector. (Christmas season turnover) is expected to be improved by 1.5...