Retail Sales in Italy
Italy - Retail SalesOn 17 October the European Commission (EC) rebuked Italy for breaching European deficit rules after the populist coalition submitted a spendthrift 2019 budget on 15 October. Despite vigorous criticism from the EC and a significant increase in bond yields in the aftermath, the budget has outlined raising the target for next year’s fiscal deficit to 2.4% of GDP and includes handouts to the unemployed and pensioners. The clash with European institutions is likely only the beginning of a fiery exchange and could result in the launching of a Significant Deficit Deviation Procedure. To complicate matters, these political tensions and financial volatility come at a time when, according to both hard and survey-based data, the economy looks to have shifted into a lower gear: Consumer spending is being weighed by weak wage dynamics due to stagnating productivity growth, while business investment is being held back by rising interest rates and a mediocre business environment. On the bright side, credit continued to expand—albeit modestly—in Q3, while external demand was solid in July–August.
Italy - Retail Sales Data
|Retail Sales (annual variation in %)||-2.1||-1.2||0.8||0.4||0.9|
5 years of economic forecasts for more than 30 economic indicators.
Italy Retail Sales Chart
Source: National Statistical Institute (ISTAT) and Met the why particular calculations.
|Bond Yield||3.50||-0.11 %||Nov 15|
|Exchange Rate||1.13||0.65 %||Nov 15|
|Stock Market||18,905||-0.99 %||Nov 15|
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November 16, 2018
According to a second estimate released by the National Statistical Institute (ISTAT) on 16 November, consumer prices remained unchanged month-on-month in October, following September’s 0.5% drop and confirming the preliminary estimate.
November 12, 2018
Industrial output shrank 0.2% in September on a month-on-month, seasonally-adjusted basis, contrasting August’s 1.7% increase.
November 5, 2018
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) dipped to a near four-year low of 49.2 in October from September’s 50.0.
October 31, 2018
According to provisional data released by the National Statistical Institute (ISTAT) on 31 October, consumer prices remained unchanged month-on-month in October, following September’s 0.5% drop.
October 30, 2018
In the third quarter, GDP remained unchanged over the previous quarter in seasonally- and working-day adjusted terms, according to an advance estimate released by the National Statistics Office (ISTAT) on 30 October.