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Financial News: Italy Retail Sales Unexpectedly Fall In November

Italy Retail Sales Unexpectedly Fall In November

01/11/2022 - 08:04:00 (RTTNews)

(RTTNews) - Italy's retail sales decreased for the first time in four months in November, defying expectations for further gains, preliminary data from the statistical office ISTAT showed Tuesday. Retail sales fell 0.4 percent from October, when they grew 0.2 percent. Economists had forecast a 0.6 percent increase. On a year-on-year basis, retail sales climbed for a ninth month in a row, up 12.5 percent, in November after a 4.0 percent gain in the previous month. The growth was the strongest since May. In volume terms, sales fell 0.6 percent from the previous month and rose 11.7 percent from a year ago. Online sales rose by 6.6 percent year-on-year in November, rebounding from a slump in October.

Compared to the previous month, food sales decreased 0.9 percent in November, while non-food sales were unchanged. All sectors experienced growth, except computers and telecommunications equipment, registered growth compared to the same month a year ago. The biggest increases were reported for shoes, leather goods and travel items, up 57.8 percent, and clothing, up 51.8 percent.

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