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since March the average growth rates of the rest of Europe have doubled - Il Giornale delle PMI

since March the average growth rates of the rest of Europe have doubled – Il Giornale delle PMI

In June 2021, Istat estimates slight economic growth for retail sales (+ 0.7% in value and + 0.6% in volume). Sales of food products (+ 1.1% in value and volume) and of non-food goods (+ 0.3% in value and volume) are on the rise.

In the second quarter of 2021, in quarterly terms, retail sales increased 2.7% in value and 2.9% in volume. The growth is large for non-food goods (+ 4.4% in value and + 4.8% in volume), more content for food (+ 0.6% in value and + 0.5% in volume).

On a trend basis, in June 2021, retail sales increased 7.7% in value and 8.1% in volume. Also in this case, the positive trend is especially strong for sales of non-food goods (+ 11.9% in value and volume), more moderate for food (+ 2.5% in value and + 3.0% in volume ).

Among non-food goods, positive trend changes were recorded for almost all product groups with the exception of Games, toys, sports and camping (-4.6%) and Furniture, textiles and furniture (-0.2%). The largest increases correspond to Clothing and leather (+ 24.5%), Footwear, leather and travel articles (+ 19.2%) and Household appliances, radios, televisions and tape recorders (+ 19.0%).

Compared to June 2020, the value of retail sales increases in all distribution channels: large-scale distribution (+ 3.3%), businesses operating in small stores (+ 10.9%), sales outside stores (+ 4.2%) and electronic commerce (+ 23.7%).

The comment

During the first half of 2021 there was a progressive increase in retail sales compared to the latter part of last year
year. The slight economic growth in the first quarter was followed by an acceleration in the second.
The positive trend was mainly determined by the increase in sales of non-food goods, which have not yet recovered
fully pre-crisis levels: in June the index for this sector, net of seasonal factors, was 2.2% lower than in February 2020.

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