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Financial News: Italy Retail Sales Recover 0.4% In May

Italy Retail Sales Recover 0.4% In May

07/05/2024 - 05:25:00 (RTTNews)

(RTTNews) - Italy's retail sales increased more-than-expected in May after falling in the previous two months, the statistical office ISTAT reported Friday.

The sales value rose 0.4 percent on a monthly basis, reversing a 0.1 percent decrease in April. Economists had expected a rise of 0.2 percent.

Retail sales of food goods grew 1.1 percent in May after falling 0.6 percent in the prior month. On the other hand, non-food sales dropped 0.2 percent versus a 0.4 percent fall in April.

On an annual basis, retail sales also rebounded 0.4 percent in May, following a 1.7 percent decrease in the prior month. The overall increase in demand was brought on by a 1.4 percent increase in food sales.

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