Italy Retail Sales Unexpectedly Fall 0.4%

(RTTNews) - Italy's retail sales decreased unexpectedly in May after rebounding in the previous month, the statistical office ISTAT reported Friday.

The sales value dropped 0.4 percent on a monthly basis, reversing a 0.7 percent increase in April. Meanwhile, sales were expected to rise by 0.5 percent.

Retail sales of food goods contracted 0.9 percent in May after rising 1.6 in the prior month. Non-food sales remained flat versus a 0.2 percent gain a month ago.

On an annual basis, retail sales growth moderated to 1.3 percent in May from 3.8 percent in April. Companies operating in small spaces and online commerce showed a decline.