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- Italy's retail sales rose more than expected in February
Italy's retail sales rose more than expected in February
According to the report from Istat, in February 2021 estimates for seasonally adjusted index of retail trade increased by 6.6% in value terms in the month on month series, likewise volume grew by 7.2%. Economists had expected a 2.0% increase in value terms.
In the three months to February 2021, despite the monthly growth, value of sales fell by 2.2% and volume contracted by 2.6% when compared with the previous three months.
Year-on-year, value of retail trade continued to decrease, dropping by 5.7%. Volume sales contracted by 7.0%.
In February 2021, all channels of distribution, besides e-commerce, continued their fall when compared with February 2020. Large-scale distribution was down 5.8%, small-scale distribution dropped by 7.6% and non-store retail sales decreased by 6.6%. This last channel of distribution has been recording no growth for 13 consecutive months.
Online sales continued their rise in February 2021, with sales up 35.8% compared with the same period a year earlier.
Looking at the value of sales for non-food products, all sectors experienced no growth besides computers and telecommunications equipment (+12.0%) and electric household appliances, audio-video equipment (+8.9%). The largest annual falls were reported for shoes, leather goods and travel items (-12.7%) and pharmaceutical products (-12.3%).
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