Retail trade volume rises 5.1% in January to February 2016

The retail trade volume excluding motor vehicles in the first two months of the year rose 5.1% compared with the respective period in 2015, after it rose a preliminary 8.6% in January, the statistical service said.

In terms of value, retail excluding motor vehicles rose in January to February an annual 2.2%, Cystat said in a statement on its website on Monday. In February, the value of retail trade rose a preliminary 4%.

The increase in retail trade defied the return to the shop-hours regime, which had been in place since 2006 and prohibited most shops from operating on Sundays. The law was briefly triggered as of the start of this year, after President Nicos Anastasiades referred a law to the Supreme Court voted by parliament to counter the government’s liberalisation of shop-working hours. But the 2006 legislation was also deemed unconstitutional by the Supreme Court, leaving the issue in limbo until a final solution can be found.

Source: Cyprus Mail