RTTNews - Italy's retail sales were flat on a monthly basis in May, data released by the Istat showed Thursday, after falling 0.4% in April. Economists had forecast an increase of 0.1%.

Compared to the previous year, there was a decline of 2.9% in sales at Italy's retail shops, quicker than a revised 0.2% fall in the previous month and 2% drop forecast.

Sales of food products dropped 2.8% year-on-year and that of non-food products fell 2.9%.

Large scale distributors suffered an annual fall of 1.5% in May, while small and medium scale distributors saw a 3.8% decline in sales.

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