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Financial News: Italy Retail Sales Unexpectedly Fall 0.1%

Italy Retail Sales Unexpectedly Fall 0.1%

06/06/2024 - 05:03:00 (RTTNews)

(RTTNews) - Italy's retail sales declined for the second straight month in April amid weaker demand for food products, the statistical office ISTAT reported Thursday.

The sales value dropped 0.1 percent on a monthly basis, following a 0.2 percent decrease in March. Meanwhile, sales were expected to rise by 0.3 percent.

Retail sales of food goods dropped 0.7 percent in April after remaining flat in the prior month. On the other hand, non-food sales grew 0.3 percent versus a 0.3 percent fall in March.

On an annual basis, retail sales fell 1.9 percent in April, reversing 1.9 percent growth in the prior month. A 4.9 percent fall in food sales caused the overall lower demand.

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