Retail Sales in Italy
Italy - Retail SalesDespite structural weaknesses, and a marginal downward revision to Q2 quarter-on-quarter GDP growth, the economy seems to have stabilized on a path of moderate recovery. In August industrial production continued to expand robustly, benefiting from rising external demand for metallurgical and pharmaceutical products. Moreover, the unemployment rate ticked down, and the number of employed people increased. Nevertheless, improving labor market conditions seemingly failed to translate into higher consumer spending—as suggested by the second consecutive month of year-on-year declines in retail sales—likely due to stagnant wage growth, and the still sluggish construction sector. In mid-October, the government presented its 2018 budget, one of its last legislative measures before next year’s election. The proposed budget includes tax incentives for firms to hire young people and invest in new machinery, and avoids the VAT hikes previously set up for next year. Nevertheless, this would come at the cost of a wider fiscal deficit in 2018, which the government now projects at 1.6%—higher than the 1.0% expected without the policy changes.
Italy - Retail Sales Data
|Retail Sales (annual variation in %)||-1.7||-2.1||-1.1||0.8||0.0|
5 years of economic forecasts for more than 30 economic indicators.
Italy Retail Sales Chart
Source: National Statistical Institute (ISTAT) and FocusEconomics calculations.
|Bond Yield||1.69||-0.40 %||Nov 03|
|Exchange Rate||1.16||0.65 %||Nov 03|
|Stock Market||22,831||-0.99 %||Nov 03|
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November 14, 2017
According to revised data released by the National Statistical Institute (Istat) on 14 October, consumer prices dropped 0.2% on a monthly basis in October, following September’s 0.3% decrease, confirming the flash estimate.
November 14, 2017
GDP grew 0.5% over the previous quarter in Q3 in seasonally- and working-day adjusted terms, according to an advance estimate released by the National Statistics Office (ISTAT) on 14 November.
November 10, 2017
Industrial output contracted 1.3% in September on a month-on-month seasonally adjusted basis, contrasting August’s 1.2% growth and coming in well below analysts’ expectations, which forecast a 0.3% drop.
November 2, 2017
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) came in at a multi-year high of 57.8 in October, above September’s 56.3 reading.
October 31, 2017
According to provisional data released by the National Statistical Institute (Istat), consumer prices dropped 0.2% on a monthly basis in October, following September’s 0.3% decrease.