Italy Retail Sales Rebound 0.7%

(RTTNews) - Italy's retail sales increased at a faster-than-expected pace in April after falling in the previous month, the statistical office ISTAT reported Thursday.

The sales value rose 0.7 percent on a monthly basis, reversing a 0.4 percent decrease in March. Sales were expected to rise by 0.2 percent.

Retail sales of food goods grew 1.3 percent in April after falling 0.4 in the prior month. Non-food sales also rebounded 0.2 percent versus a 0.3 percent fall in March.

On an annual basis, retail sales recovered strongly by 3.7 percent in April, after a 2.7 percent decline in the prior month. An 8.6 percent surge in food sales boosted the overall higher demand.