Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Rise in Italy's retail sales in July driven by supermarkets

Published 07/09/2023, 10:30
Updated 07/09/2023, 10:36
© Reuters. Customers place their plastic shopping bags in a trolley after shopping in a supermarket in Rome December 29, 2010. REUTERS/Alessia Pierdomenico/File photo
IT40
-

(Reuters) - Italian retail trade rose marginally in July as large-scale food distribution pushed up sales, data showed on Thursday.

Retail sales increased by 0.4% in value from June and by 2.7% in unadjusted year-on-year terms, national statistics institute ISTAT said.

Sales in large-scale distribution were up 5.5% on the year, with food distribution, in particular discount supermarkets, increasing by 7.1%, ISTAT said.

The data was expressed in value terms and was not adjusted for consumer prices, which increased by 6.4% in July from the year earlier, based on Italy's EU-harmonised index (HICP).

"On a yearly basis, there is a persistent trend of an increasing value in sales, especially in the food sector, as opposed to a decrease in volumes," ISTAT said, as non-food products drove lower volumes.

Volumes declined by 4.5% year-on-year, compared to a 1.0% drop in the euro zone, and edged down by 0.2% on the month, in line with the other members of the currency bloc.

Italy's economy has slowed down in recent months, with GDP falling by 0.4% in the second quarter compared with the previous three months, revised data showed in September.

ISTAT singled out the negative impact of the domestic component on the reading.

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.