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Italian retailers boosted by Holiday sales

ITALY DATA
MNI (London)
  • Italian retail sales continued to recover in December, beating expectations with an increase of +0.9% m/m, following a contraction of -0.4% m/m in November.
  • Compared to December 2021, retail sales expanded +9.4% y/y. This was somewhat lower than the bumper November reading of 12.4%r, which saw a boom in early Xmas retail trade.
  • Furniture and textiles (+26.1% y/y), clothing (+24.7% y/y) and pharmaceuticals (+22.0% y/y) were the key contributors to retail growth.
  • Italian retail sales growth continues to outpace pre-pandemic levels, with 2021 seeing a total increase of 7.9% compared to 2020.

Source: ISTAT

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