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Financial News: Italy Retail Sales Rise Further In May

Italy Retail Sales Rise Further In May

07/11/2022 - 06:54:00 (RTTNews)

(RTTNews) - Italy's retail sales increased for the second successive month in May, data from the statistical office Istat showed on Monday.

The value of retail sales rose 1.9 percent month-on-month in May, much faster than the 0.3 percent increase in April.

Food sales grew 1.4 percent monthly in May and non-food product sales rose 2.4 percent.

On a yearly basis, the value of retail sales rose at a slower pace of 7.0 percent in May, following an 8.3 percent increase in the prior month.

Online sales were 15.5 percent higher in May compared to last year, well above the 1.4 percent rebound in April.

In volume terms, retail sales recovered strongly by 1.5 percent monthly in May, after a 0.2 percent fall in April. The annual growth moderated to 2.7 percent from 4.3 percent a month ago.

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