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Retail, tourism sectors make worse start in 40 years

Confesercenti says 29,136 businesses closed in Jan, Feb

11 March, 12:58
Retail, tourism sectors make worse start in 40 years (ANSA) - Rome, March 11 - The retail, tourism and intermediary sales sectors got off to a negative start to 2014, small and medium-sized business association Confesercenti said Tuesday.

Some 29,136 businesses closed and 11,413 opened in the retail, tourism and intermediary sales sectors in the first two months of the year, Confesercenti said.

This translated into a negative balance of 17,723 closures, the worst figure for the January-February period for 40 years.

Closures outstripped openings in all trade sectors, while Rome came bottom of the city league with a net balance of 682 closures. Italy emerged from its longest postwar recession in the second half of last year, but the recovery is weak, economists say.

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