Italian statistics agency Ismea has revealed a slight downturn in retail spending through the country's major retailers during the third quarter of 2009, mainly as a result of falling food sales.
While the value of retail sales in the country during the three-month period rose 9.1 per cent compared with the previous quarter, the result represented a 4 per cent decrease on the result during the same period of 2008.
'The worsening of consumer sentiment, seen both as a cyclical and continuing trend, can be attributed exclusively to the downturn in sales of food products,' a spokesperson for Ismea commented.
'However, the other two components in the index - expectations for sales and inventory levels - registered values that were satisfactory and in almost all cases improvements.'
Italian supermarkets performed best during the third quarter, Ismea suggested, while in contrast the country's hypermarkets fared worse.
'For the supermarkets, this development mainly reflects a positive and growing trend in terms of their sales expectations during the next three months and the downsizing of their stocks while sales have fallen in the last quarter,' the spokesperson noted.
For 'minimarket' convenience stores, the three-month period was a positive one, but concerns remain about their performance during the final quarter of the year, the agency said.
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