Italy August retail sales fall 0.3 pct m/m

Italian retail sales fell a seasonally adjusted 0.3 percent in August from the previous month after falling a revised 0.4 percent in July, data showed on Friday. Retail sales, excluding cars, services and most online commerce, have stagnated this year although consumer spending measured in gross domestic product data has gained strongly. Retail sales were down 0.5 percent in unadjusted year-on-year terms in August, after posting a revised -0.4 reading in July.

ISTAT’s previously reported figures for July showed retail sales falling 0.2 percent month-on-month and posting a flat reading on the year. The data are expressed in value terms and are not adjusted for consumer price inflation, which was running at 1.0 percent on the year in August, based on the main domestic NIC index. ISTAT gave the following data:

AUGUST JULY JUNE Mth/Mth change* -0.3 -0.4r 0.5r Yr/yr change** -0.5 -0.4r 1.3 Food sales (m/m) -0.4 0.0r 0.8r Non-food sales (m/m) -0.4 -0.5r 0.3r *seasonally adjusted **unadjusted
Source: Reuters