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Financial News: Norway Retail Sales Grow For Second Month

Norway Retail Sales Grow For Second Month

10/28/2022 - 02:18:00 (RTTNews)

(RTTNews) - Norway's retail sales grew for a second month in a row in September, largely led by sales of information and communication equipment, preliminary data from Statistics Norway showed on Friday.

Retail sales edged up a seasonally adjusted 0.1 percent from August, when they grew 0.6 percent. In July, sales fell 1.9 percent.

Sales of information and communication technology equipment rose 1.3 percent in September, marking the biggest gain among main components. In contrast, sales in the food and beverages category shrank 3.6 percent, which was the worst fall among main categories.

Compared to the same month last year, retail sales decreased 3.8 percent after a 4 percent slump in the previous month. The decline was led by a steep fall in sales in the food and beverages and, cultural and recreation segments.

Separate data from Statistics Norway showed that the number of hotel guest nights increased 21 percent year-on-year in September. Both Norwegians and foreigners contributed to the increase, the agency said.

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