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Italy's retail sales index slumps again in May

This year worse than 2012 record fall says Confcommercio

Italy's retail sales index slumps again in May

Rome, July 4 - Confcommercio's Consumption Index slumped again in May, with expectations of a recovery delayed at least until 2014, according to Italy's retailers' association on Thursday. The index dropped 3.2% in May compared to the same month in 2012, and declined 0.2% compared to April. In the first five months of the year it suffered a 4.2% decline, compared to the 3% drop it registered for the whole of 2012, confirming that the first part of this year has been worse for retailers than last year, which had posted the biggest annual decline since the data first started being collected. Even so, the association said that there were a few sporadic and isolated signs of recovery, which bode well for the stabilization of the current economic cycle in coming months. A full-blown recovery, however, is not to be expected until next year. (photo: Confcommercio President Carlo Sangalli)

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