Italy’s retail sales, industrial orders fall in May
On a yearly basis, meanwhile, industrial orders declined for the first time in four months, falling by 0.5% in May compared with a gain of 7.9% in the previous month. Economists’ initial estimates had called for a gain of 5.5% in May. Total Industrial sales, however, increased 2.4% in May on a calendar adjusted basis after showing a slight decrease of 0.2% in the previous month.
The country’s retail sales, meanwhile, posted a seasonally adjusted decrease of 0.1% on the month in May after rising 0.7% in the previous month. Economists’ initial estimates called for retail sales to remain the same. On a yearly basis, sales increased 0.3% after staying stable in April. Economists’ preliminary expectations had called for an increase of 0.2% on a yearly basis. Sales for food products posted a slight decrease of 0.2% on the year while non-food sales remained at the same level in May.
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