Retail sales in Italy declined for the second month in July, with a fall of 0.3% month-on-month in July, compared to previously recorded 0.2% fall in June and exceeding analysts’ forecast of 0.1%, according to reports from the National Institute of Statistics (Istat).
Retail sales edged 0.9% lower on an annual basis, after a 3% drop in June while analysts estimated a 2.8% drop.
Retail Sales – Consumer Prices
In Italy, inflation rose to 0.4% in August, Istat reported on September 12. While on an annual basis, inflation advanced 1.2% in August.”The stability of Italian inflation was mainly the result of opposite movements,” Istat reported.The reports showed that the annual growth of food and non-alcoholic beverages prices was growing at a slower pace.
The Index of wages measures the growth of wages and salaries, which are determined by the contractual provisions, set by agreements.
At the end of July 2013, the coverage rate was at 47.3% when it came down to employees, while the total amount of wages was summed up to 45.8%.
In July, the hourly index rose by 0.1% while the per employee index remained unchanged, compared to July last year, the indices both advanced by 1.5%. Between January- July 2013, the hourly wage index rose by 1.4%, while the per employee index increased by 1.5%.
Italy’s GDP
The economic output for Italy was seen falling in the second quarter of this year, the preliminary figures confirmed on August 6 by Istat.
The flash second-quarter for Italy’s gross domestic product (GDP) dropped 0.2% quarter-on-quarter after a decline of 0.6% in the past three month period. Analysts predicted a fall of 0.4%.
Italy’s GDP declined 2.0% in the second quarter on an annual basis.
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