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Financial News: Italy Retail Sales Rebound 0.8% In November

Italy Retail Sales Rebound 0.8% In November

01/11/2023 - 04:58:00 (RTTNews)

(RTTNews) - Italy's retail sales recovered in November, driven by growth in both food and non-food goods as households spent more amid high inflation.

The value of retail sales rose 0.8 percent month-on-month in November, reversing a 0.3 percent fall in October, data from the statistical office Istat showed on Wednesday.

Sales of food goods grew 0.6 percent monthly in November, and sales of non-food products also showed a positive growth of 1.0 percent.

On a yearly basis, the value of retail sales climbed at a faster pace of 4.4 percent in November, following a 1.2 percent increase in October. Sales have been rising since March 2021.

Online sales were 4.7 percent higher in November compared to last year versus a 5.7 percent rise a month ago.

Data also showed that the volume of retail sales remained flat compared to October, while it fell 3.6 percent from a year earlier due to a sharp fall in sales of food products.

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