Shop closures in Greece’s Attica region, which includes Athens, have reached 15% since the economic crisis started hitting consumer spending, daily Kathimerini reports citing a study by the National Confederation of Hellenic Commerce. Of 3,421 stores sampled in the region, 505 have closed, according to the study. In central Athens, 215 businesses out of 1,252 have closed, according to the study, conducted between July 19 and 30. The most affected were clothing stores. The organization didn’t provide any comparative figures. Greece’s economy, in the third year of recession, faces austerity measures imposed by international lending agencies. The economy is forecast to shrink 3.8% this year after a 4.4% contraction last year, according to European Commission data released July 4. Strikes and protests in downtown Athens have harmed business, the confederation said. The level of closures on Stadiou Street, which runs through the heart of downtown Athens, was 25%, the highest in the study. On Ermou, Athens’s main shopping street, 15% of stores have shut.
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