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Italian Retail Sales Decline More Than Expected

02/24/2012  04:33

Retail sales in Italy declined more than expected in December, data from the statistical office Istat revealed Friday.

Retail sales fell a seasonally adjusted 1.1 percent compared to economists' forecast for a 0.5 percent drop. Sales of food products declined 1 percent month-on-month, while there was a 1.2 percent drop in sales of non-food goods.

Retail sales during the fourth quarter were 1 percent lower than in the preceding three months. On an unadjusted basis, sales dropped 3.7 percent from December 2010.

(Market News Provided by RTTNews)

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