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Italy's retail trade unexpectedly dropped in November 2019

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Italy's retail trade unexpectedly dropped in November 2019

Seasonally adjusted retail trade in Italy unexpectedly declined by 0.2% month over month in value terms in November 2019 following a revised decline of 0.3% in October 2019, data from the country's National Institute of Statistics showed.

The consensus estimate of economists polled by Econoday was for an increase of 0.3% in retail trade value for the month. In volume terms, retail trade fell 0.3% on a monthly basis.

The monthly decline was led mainly by the non-food goods sector, which recorded decreases of 0.3% and 0.4% in retail trade value and volume, respectively. Within the sector, the value of sales for pharmaceutical products fell the most at 2.7%, followed by a decline of 1.2% in optical instruments and photographic equipment.

Meanwhile, cosmetic and toilet articles recorded the largest growth in value of sales at 3.8%, and furniture and textile items and household furnishings recorded a 2.2% increase.

The value of sales for food products stayed flat in November 2019, while trade volume declined 0.2%.

Retail trade in both value and volume terms increased 0.9% and 0.7% year over year, respectively, in November 2019, marking the sixth consecutive month of growth.

In the September-November quarter, retail trade value and volume both fell 0.1% from the June-August quarter.