Retail sales data for July 2024 released by Istat
The data released by Istat for retail sales in July show a tendential increase in value of +1.0% and in volume of +0.1%. The data for July confirm that consumption still remains weak despite the cooling trend in price growth in recent months. Sales volumes in the food sector, which were down in 2023 and in the first part of this year, recorded a slight recovery, while in the non-food sector the disappointing performance of the summer sales, particularly in some segments such as clothing, did not generate the hoped-for trend reversal. Against this backdrop, consumer confidence worsened as a result of deteriorating economic and personal expectations. A negative figure that is worrying in perspective for the resilience of domestic demand, which is fundamental for the stability of the national economy. It is therefore a priority that the next Budget Law confirms the direction on measures to support incomes and families.
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