Retail Sales in Italy
Italy - Retail SalesGDP shrank markedly in the first quarter, hit by the coronavirus crisis, after contracting in the final quarter of last year on shriveling domestic demand. The severe containment measures to limit the spread of the virus dragged heavily on an already-frail domestic economy, and the extension of restrictions hints at an intensification of the downturn in the second quarter. Exacerbating matters, on 28 April, Fitch Ratings downgraded Italy's credit rating from 'BBB' to 'BBB-', just a notch above "junk", due to debt sustainability risks associated to a projected jump in the public debt stock. The downgrade will likely put upside pressure on borrowing costs and came just days after S&P Global Ratings held the country's debt classification unchanged, citing the role of the ECB's massive asset purchase program in backstopping an expected leap in public borrowing.
Italy - Retail Sales Data
|Retail Sales (annual variation in %)||-1.2||0.8||0.4||0.9||0.1|
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||1.31||-0.40 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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May 28, 2020
The National Institute of Statistics (Istat)’s composite business confidence indicator (Clima di Fiducia delle Imprese Italiane, IESE)—which covers the manufacturing, construction, market services and retail sectors—collapsed to an all-time low of 51.1 in May from March’s 99.2 (the latest preceding month for which data is available). May’s crash came on the back of a broad-based sharp worsening of sentiment across sectors.
May 28, 2020
The consumer confidence index released by the National Institute of Statistics (ISTAT) fell to 94.3 in May from March’s 100.1 (the last preceding month for which data is available), marking the worst print since December 2013. May’s decline came on the back of a broad-based deterioration in the economic, personal, current and future components.
May 15, 2020
Consumer prices rose 0.1% from the previous month in April, matching the 0.1% rise logged in March.
May 11, 2020
Industrial output collapsed 28.4% in March on a month-on-month, seasonally-adjusted basis.
May 4, 2020
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) crashed to 31.1 in April from 40.3 in March, amid widespread Covid-19 shutdowns.