ROME (dpa-AFX) - Italy's retail sales increased unexpectedly in August after falling in the previous two months, the statistical office ISTAT reported Friday.
The sales value rose 0.3 percent on a monthly basis in August, reversing a 0.4 percent decrease in July. Economists had expected a decrease of 0.1 percent.
Food product sales grew 0.8 percent monthly in August. Meanwhile, non-food product sales remained flat, and this marked the end of two consecutive months of declines in the sector.
Regarding non-food items, the largest increase was seen in IT, telecommunications, and telephone equipment, which advanced 6.7 percent. Conversely, footwear, leather goods, and travel goods recorded the most significant decline of 4.1 percent.
On a yearly basis, retail sales growth moderated to 0.5 percent from 1.0 percent.
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