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Italy retail trade value growth declines less than expected in October

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Italy retail trade value growth declines less than expected in October

Seasonally adjusted retail trade in Italy declined less than expected by 0.2% month over month in value terms in October following revised growth of 0.6% in September, data from the country's National Institute of Statistics showed.

The Econoday consensus estimate was for a decline of 0.4% in the month. In volume terms, retail trade also fell 0.2% on a monthly basis.

On an annual basis, the value figure for sales grew 1.0%, in October, compared to a revised 0.8% in the prior month.

In the August-October quarter, retail trade value and volume rose 0.1%, compared to the previous quarter.

The decline was led primarily by non-food goods the sales of which fell 0.5% in value and 0.4% in volume. Within the category, stationery, books, newspaper and magazines sales decreased 1.6% as did those of pharmaceutical products, while sales of photo-optics and films, magnetic media and musical instruments declined 1.5%.

In contrast, non-food categories that registered the largest increases included the retail trade of IT equipment, telecommunications and telephony registered a boost of 2.7% while sales of games, toys, sports and camping goods were up 2.4%.

Meanwhile, sales of food goods rose marginally at a rate of 0.1% in value and 0.2% in volume.