Italy Retail Sales Rise
Italy’s retail sales increased at a faster-than-expected pace in January, after falling in the previous two months, preliminary figures from the statistical office Istat showed Wednesday, RTT reported. Retail sales climbed a seasonally adjusted 1.4% month-over-month in January, reversing a 0.5% drop in December. Economists had expected only a 0.2% rise for the month. Sales of food products grew 2.3% over the month and those of non-food products went up by 0.8%. On a yearly basis, retail sales edged down 0.1% in January, following a 0.2% decrease in the prior month. Meanwhile, it was forecast to increase by 0.8%.