Italy retail sales beat forecasts, rise 1.2 pct m/m in Oct after three consecutive monthly declines

Report from the statistical office Istat showed that Italy's retail sales grew 1.2 percent month-on-month in October, reversing September's 0.4 percent fall. Retail sales recorded the first rise after three consecutive monthly declines. It was also the largest increase for more than two years.

Retail sales year-on-year marked the fourth consecutive annual decline. However, retail sales slid at a slower pace of 0.2 percent year-on-year in October after easing 1.6 percent in September.

September’s data was marginally revised up to show a 0.5 percent month-on-month drop, compared with an originally reported 0.6 percent fall. In the first 10 months of the year retail sales were flat compared with the same period of 2015.

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