Leather goods take the lead in Italian retail spending
03/08/2001
Figures released by the Italian national statistics agency ISTAT last week show that sales of footwear and leather goods were at the forefront the 2.9% increase in retail spending in the 12 month period to June 2001.
Footwear and leather goods sale increased by 3.2% compared with the year-before period – a rate of growth second only to retail sales of pharmaceuticals which increased by 5.5%.
Though the figures were better than many analysts were expecting, they nevertheless masked the continuing slowdown in the Italian economy, as month-on-month sales were down by 4%. Compared with initial forecasts of 3% growth, the Italian economy now expected to expand by 2% in 2001.
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