Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Italy July retail sales fall 0.1 percent month on month

Published 25/09/2014, 11:09
© Reuters People walk in front of a department store having a sale in downtown Milan

Sept 25 (Reuters) - Italian retail sales fell a seasonally adjusted 0.1 percent month-on-month in July, led by lower food sales, after a revision showed an identical fall in the previous month, data showed on Thursday.

On an unadjusted year-on-year basis, retail sales fell 1.5 percent, after a revised 2.7 percent fall in June, national statistics bureau ISTAT said.

ISTAT had previously reported June sales were flat month-on-month and down 2.6 percent year-on-year.

The data underlined the fragile state of domestic consumer demand in the euro zone's third-largest economy, which slipped back into recession in the second quarter of the year.

© Reuters. People walk in front of a department store having a sale in downtown Milan

ISTAT said on Wednesday that consumer confidence rose in September for the first time in four months, but the decline in retail sales suggests a tax cut of 80 euros a month for low earners introduced by the government of Prime Minister Matteo Renzi earlier this year has not boosted spending.

(Isla Binnie, Rome newsroom, +39 06 8522 4350, fax +39 06 854 0568)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.