Italy Retail Sales Unexpectedly Fall 0.5%

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

The sales value dropped 0.5 percent month-on-month in October, reversing a 1.3 percent increase in September. Economists had expected sales to grow at a softer pace of 0.9 percent.

Sales of food items declined by 0.7 percent over the month, and those of non-food goods contracted by 0.3 percent.

The annual growth in retail sales accelerated to a 15-month high of 2.6 percent from 0.7 percent in September.