Italy Retail Sales Growth Biggest Since April 2014

(RTTNews) - Italy retail sales grew the most in one-and-a-half years during October, figures from the statistical office ISTAT showed Wednesday.

Retail sales rose 1.8 percent year-on-year in October, after a 1.5 percent increase in the previous month. Economists had forecast a 1.7 percent gain.

The latest increase was the biggest since April 2014, when sales grew 2.7 percent.

Growth in sales of food slowed to 1.6 percent from 2.3 percent, while the increase in non-food sales climbed to 2.1 percent from 1 percent.

On a month-on-month basis, retail sales fell 0.3 percent in October, following 0.1 percent drop in the previous month. Economists were looking for a 0.3 percent gain. It was the second consecutive monthly decline.