Greece’s retail sales rose 5.1% year on year in December. This was up from a 0.3% annual rise in the previous month.
The reported 5.1% year-over-year jump in Greek retail sales for December 2025 is a significant indicator of robust consumer demand. This figure, sharply up from the previous month’s 0.3%, suggests the Greek economy carried strong momentum into the end of last year. For us, this confirms an underlying strength that may not be fully priced into the market.
Implications For Greek Equities
This strong consumer activity likely contributed to the better-than-expected Q4 2025 GDP growth of 0.8% that was reported just last week. With the Athex Composite Index already up nearly 4% since the start of 2026, we see this retail data as a lagging confirmation of the positive sentiment. Therefore, we should look at call options on Greek equity ETFs, like the GREK, to capitalize on expected continued strength.
Historically, we remember Greece’s struggles with consumer spending during the sovereign debt crisis a decade ago, making this data point particularly noteworthy. The recovery is clearly taking hold, further supported by 2025’s record-breaking tourism season which saw over 33 million arrivals, bolstering national income. This creates a solid foundation for corporate earnings in the consumer discretionary sector.
Looking ahead, this strong domestic demand could put upward pressure on Greece’s inflation, which stood at 3.0% in January 2026, slightly above the Eurozone average. While this is a risk, for now it strengthens the case for a bullish outlook on the Greek market relative to its European peers. We should consider long positions through index futures to gain broad exposure to this accelerating economy.
