Italian retail sales decline continues - and it's worse than expected

Italian retail sales are weak for July, down 0.3 per cent in one month. Analysts had been expecting a contraction of just 0.1 per cent after a 0.2 per cent fall in the month before.

Food goods sales fell by 0.1 per cent, with non food goods dropping by 0.3 per cent.

Italian retail sales are down 0.9 per cent since July 2012.