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Financial News: Norway Retail Sales Drop In August

Norway Retail Sales Drop In August

09/28/2020 - 04:05:00 (RTTNews)

(RTTNews) - Norway's retail sales dropped in August, figures from Statistics Norway showed on Monday.

Retail sales fell 4.9 percent month-on-month in August, after a 0.6 percent increase in July.

Sales of cultural and recreation goods declined 23.0 percent monthly in August. Sales of information and communication technology decreased 10.7 percent and those of food and beverages fell by 4.6 percent.

Sales of other household equipment fell 7.6 percent and sales in non-specialized stores declined 3.1 percent.

Excluding motor vehicles and gas stations, retail sales fell 5.3 percent monthly in August, after a 0.5 percent increase in the preceding month.

On a year-on-year basis, retail sales increased 8.2 percent in August, after a 13.8 percent rise in the prior month.

Separately, the statistical office reported that the household consumption declined 3.8 percent month-on-month in August, after a 2.0 percent increase in July.

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