Italy’s retail sales surprisingly stall in March

Retail sales in Italy unexpectedly stalled from a month ago in March following a 0.2% increase in February, the latest data by the National Institute of Statistics showed.

In comparison, a consensus of analyst estimates had pointed to a 0.2% rise.

Italy’s latest figure came in contrast with a 0.8% sales growth in the Euro Area.

In March, retail turnover was unchanged for food items and decreased 0.1% for non-food goods.

The Euro was 0.15% firmer on the day against the British Pound, with the EUR/GBP currency pair last trading at 0.8610.

The currency pair was holding not far from a two-week high of 0.8614, which it touched earlier in the session, with Bank of England’s policy decision now in focus.