(Finance) – Le Italian retail sales in August they record a drop of 0.5% compared to the previous month, according to data released today byIstat. On an annual basis there is a growth of 0.8% in value, but the overall context appears worrying, as underlined by the main consumer associations.
Massimiliano Dona, president of the National Consumers Union (UNC)called the data “negative”, highlighting the negative record for a monthly decline not seen since September 2023. In the food sector, volume sales for August 2022 decreased by 2.3%, despite a slight recovery (+1%) compared to the previous year. Dona ironically commented on this trend as a “nice slimming cure” for Italian families, with a constant decline in food consumption in recent years.
Also Assoutients expressed concern about the situation, highlighting a 0.9% decline in volumes sold in the first eight months of 2024 and one decrease of 1.1% for food goods. “Italians continue to reduce purchases even for primary goods such as food”, said the president Gabriele Melluso, who urged the government to adopt urgent measures to lower retail prices and support the purchasing power of families.
Confessors he talked about a “worrying picture” for small shops, with sales down 0.9%despite the summer sales period. Household spending remains stagnant and, according to the organisation, it is essential that the next financial package focuses on support for incomes, through fiscal interventions that can give new impetus to consumption. The share of consumption in GDP has in fact fallen to 56.9%, far from the 59.9% recorded in 2014, a sign of a stagnant structural potential that risks undermining the economic recovery.
Also Confcommercio expressed concern about the stagnation in sales volumesunderlining the contrast between the increase in employment and family incomes and the lack of positive effects on consumption. Italian GDP may not reach the 1% growth target set by the government, given the slowdown observed in the second quarter of 2024.
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