- Fitch
Italy's retail sales remained stagnant in October, posting a flat 0.0% growth on month, according to Istat, after being stagnant in September. On an annual basis, sales in Italian stores dropped 0.8%, compared with a revised 0.6% decline in retail business in the preceding month. Istat also confirmed that the Italy's economy remained in a weak economic situation in the September quarter after a dire performance in the first half of the year. GDP fell 0.1% in the three months through September, while on annual basis the Euro zone's third-biggest economy booked negative 0.5% GDP growth during the reported period, following a 0.4% drop in the previous three months.
However, final GDP data for France showed that the Euro area's second largest economy returned to growth in the third, according to the National Institute for Statistics and Economic Studies. Economic output in France recorded a 0.3% growth in the three-month period ending September, after posting a 0.1% deterioration in the second quarter. The reading came out in line with economists' expectations. On an annual basis, the final GDP estimate showed a 0.4% growth, following the previous quarter's downwardly revised zero growth.
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