Italian Retail Sales Drop More Than Expected In July

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Italy's retail sales fell 2.6% year-on-year in July due to a 0.8% fall in large scale distribution and a 3.7% decline in small and medium scale sales, statistical office Istat said Friday. Economists had forecast a 1.5% decrease.

On a monthly basis, sales were down 0.4%, while those were expected to rise 0.2%.

Italy's retail sales fell 2.6% year-on-year in July due to a 0.8% fall in large scale distribution and a 3.7% decline in small and medium scale sales, statistical office Istat said Friday. Economists had forecast a 1.5% decrease. (Market News Provided by RTTNews)