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Financial News: Sweden Household Consumption Declines In May

Sweden Household Consumption Declines In May

07/09/2019 - 07:02:00 (RTTNews)

(RTTNews) - Sweden's household consumption decreased in May on weaker spending on food, clothing and transportation, Statistics Sweden reported Tuesday.

Household spending fell 1 percent on a yearly basis in May.

Spending on food and beverages decreased 2.2 percent and that on clothing and footwear dropped 3.7 percent. Transport showed a sharp contraction of 7 percent.

Meanwhile, furniture and household equipment expenditure surged 9.1 percent and spending on housing and electricity gained 1.4 percent.

During three months to May, consumption decreased 0.1 percent compared with the same period last year.

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