(RTTNews) - Italy's retail sales rose better than expected in October, following a decline in the previous month, official figures showed Wednesday.Retail sales rose a seasonally adjusted 0.3% month-on-month, the statistical office ISTAT said. Economists had forecast a 0.1% gain.
The statistical agency revised September's decline to 0.3% from 0.2% reported initially. It was the first decline since March.Year-on-year, retail sales dropped an unadjusted 0.6% in October, following a revised 0.3% fall in the previous month. It was the second consecutive annual decline. The statistical agency had reported a 0.3% gain for October, earlier.
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Italian Retail Sales Rise More Than Expected In October
(RTTNews) - Italy's retail sales rose better than expected in October, following a decline in the previous month, official figures showed Wednesday.
Retail sales rose a seasonally adjusted 0.3% month-on-month, the statistical office ISTAT said. Economists had forecast a 0.1% gain.
The statistical agency revised September's decline to 0.3% from 0.2% reported initially. It was the first decline since March.
Year-on-year, retail sales dropped an unadjusted 0.6% in October, following a revised 0.3% fall in the previous month. It was the second consecutive annual decline. The statistical agency had reported a 0.3% gain for October, earlier.
Sales may receive further boost this month in the run-up to Christmas. Survey results from the think tank ISAE today showed that Italian consumer sentiment rose further in December, defying expectations for a decline.
The consumer confidence indicator advanced to 109.1 from 108.5 in the previous month, rising for the fourth consecutive month. Economists had forecast the index reading to fall to 108.3. The index has returned to levels seen at the start of the year, ISAE said.
The Italian economy expanded at a faster pace in the third quarter than initially estimated, statistical office Istat announced earlier this month. Gross domestic product climbed 0.3% sequentially, faster than the 0.2% growth estimated previously. However, growth slowed from 0.5% recorded in the second quarter.
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