Financial News: Norway Retail Sales Fall, Household Consumption Rebounds

Norway Retail Sales Fall, Household Consumption Rebounds

05/28/2024 - 03:35:00 (RTTNews)

(RTTNews) - Norway's retail sales decreased in April after rising in the previous two months, preliminary data from Statistics Norway showed on Tuesday.

Separate official data revealed that household consumption rebounded sharply at the start of the second quarter.

The volume of retail sales dropped a seasonally adjusted 0.3 percent month-on-month in April, reversing a 0.3 percent increase in the prior month.

Retail sales of cultural and recreational goods alone fell by 5.2 percent, and those of other goods showed a decline of 3.6 percent.

On the other hand, sales of food and beverages advanced 2.2 percent over the month, and automotive fuel sales rose by 1.1 percent.

On a yearly basis, retail sales rose at a slightly faster pace of 0.9 percent in April, following a 0.7 percent gain a month ago.

Separate official data showed that household spending increased 4.1 percent monthly in April, in contrast to a 2.8 percent decline in March. This strong rebound was largely attributed to a 22.6 percent higher purchase of vehicles and petrol.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Atlanta Fed Sees U.S. Q3 GDP Growth At 2.8% (08 hr(s), 04 min(s), 10 sec(s) ago)
(RTTNews) - The Atlanta Fed released its initial estimate for the third quarter growth based on it ...Full Story»

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July (09 hr(s), 55 min(s), 10 sec(s) ago)
(RTTNews) - The University of Michigan released revised data on Friday showing consumer sentiment ...Full Story»

U.S. Consumer Prices Inch Up 0.1% In June, In Line With Estimates (10 hr(s), 52 min(s), 10 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Spain Jobless Rate Lowest Since 2008 (11 hr(s), 06 min(s), 10 sec(s) ago)
(RTTNews) - Spain's unemployment rate fell to the lowest level in nearly 16 years in the secon ...Full Story»

Denmark Retail Sales Fall 0.1% (11 hr(s), 14 min(s), 10 sec(s) ago)
(RTTNews) - Danish retail sales decreased slightly in June after recovering in the previous month, ...Full Story»

Hungary Jobless Rate Falls To 4.3% (11 hr(s), 30 min(s), 10 sec(s) ago)
(RTTNews) - Hungary's unemployment rate decreased slightly during the April-June period, data ...Full Story»

U.S. PCE Price Index Inches Higher In June, Annual Growth Slows To 2.5% (11 hr(s), 39 min(s), 10 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Russia Central Bank Hikes Rate By 200 Bps (11 hr(s), 52 min(s), 10 sec(s) ago)
(RTTNews) - Russia's central bank raised its benchmark rate by 200 basis points on Friday amid ...Full Story»