2017.07.0706:14:00UTC+00Italy's Retail Sales Fall Unexpectedly In May

Italy's retail sales declined for the second straight month in May, defying economists' forecast for a rebound, preliminary figures from the statistical office Istat showed Friday.

Retail sales edged down 0.1 percent month-over-month in May, slower than the 0.4 percent fall in April. In contrast, economists had expected a 0.3 percent rise for the month.

Sales of food products decreased 0.8 percent over the month, while those of non-food products increased by 0.3 percent.

On a yearly basis, retail sales climbed 1.0 percent in May, following a 0.8 percent gain in the preceding month. The figure also matched consensus estimate.