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Retail investments take a step backwards again in Q3, but pipeline volume remains high, giving hope for significant improvements during the final quarter of the year.
Retail sales trend consolidates: in the first eight months of the year the CBRE sample of galleries shows a growth of between 3-4% annually.
The internal demand component improves, supporting GDP growth. Consumer confidence also improves again in September.
The signs of improvement seen in the previous quarter for development activity continued after the summer. Despite no completion of projects under construction, the pipeline is growing. Interest in the south of the country returns shyly.
Demand from retailers continues to focus on major cities, with Milan at the head, and on dominant centres.