Istat. In September, the global economy recovered, uncertainties remain about the pandemic evolution

• Istat, in 2019 the tax burden rose to 42.4%

• Istat: recovery in industry turnover, + 8.1% in July, and orders recover 3.7%

• Istat: industrial production in July + 7.4% on the month, but -8% on the year

• Istat: signs of recovery from May, better exports and manufacturing

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07 October 2020Return to trade after the stagnation linked to the lockdown: Istat announces that in August, compared to the previous month, retail sales recorded an increase of 8.2% in value and 11.2% % by volume.

The growth - explains the institute - mainly concerns the sales of non-food goods (+ 13.8% in value and + 19.2% in volume) but those of food goods are also increasing (+ 1.6% in value and + 1.7% by volume).

The increase is even stronger if we consider the June-August quarter with retail sales recording an increase of 22.8% in value and 22.4% in volume compared to the previous quarter.

Here too, the sales of non-food goods determine the positive change (+ 52.7% in value and + 50.6% in volume) while food goods decreased (-1.5% in value and -1.7% by volume).

On an annual basis in August Istat recorded an increase in sales of 0.8% in value, while those in volume were stationary.

Also in this case the sales of non-food goods grow both in value and in volume (respectively + 1.1% and + 0.5%), while those of food goods are increasing in value (+ 0.6%) and down in volume (-0.4%).

Different trend on an annual basis for non-food goods: the biggest increases relate to IT equipment, telecommunications, telephony (+ 12.3%) and Household tools and hardware (+8.4 ).

The most marked downturns, on the other hand, are seen in Stationery, books, newspapers and magazines (-7.7%) and Other products (-5.2%).

Compared to August 2019, the value of retail sales slightly increased for large retailers (+ 0.4%) and decreased for companies operating on small surfaces (-0.5%).

Sales outside the shops are down by 3.3% while e-commerce is growing strongly (+ 36.8%).

Commenting on the data, Istat reports the positive result of Clothing which returns to grow on a trend basis for the first time since last February, presumably thanks to the effect of the sales that this year, in many regions, have begun in August instead of July.

In Italy, the recovery phase of industrial production is accompanied by comforting signs for orders and exports.

The construction sector and the real estate market also exhibit a certain dynamism.

This was announced by Istat, which today released the monthly Note on the trend of the Italian economy of September 2020.

In the summer months, economic activity at the international level, notes the 'Istat, highlighted a decisive recovery, spread heterogeneously among the countries.

However, the global picture continues to be dominated by the difficulties and uncertainties deriving from the evolution of the pandemic, the recent worsening of which could significantly affect the short-term scenario.

August In August, employment returns to increase for the second consecutive month while unemployment and inactivity are marginally reduced, the latter still at levels higher than those of January.

Weak demand together with direct and indirect effects of the fall in the prices of energy products consolidate the deflationary phase of consumer prices.

Core inflation is further attenuating, which was zero in September due to the fall in prices for services.

The monthly note on the trend of the Italian economy for September 2020 is online #istat https://t.co/rwn2t5UDXx pic.twitter.com/2fjivr6cxa

- Istat (@istat_it) October 7, 2020