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Financial News: Norway Retail Sales Growth Slows In May

Norway Retail Sales Growth Slows In May

06/26/2020 - 03:11:00 (RTTNews)

(RTTNews) - Norway's retail sales grew at a softer pace in May, figures from Statistics Norway showed on Friday.

Retail sales rose 2.8 percent month-on-month in May, following a 4.8 percent increase in April. Sales increased for the second straight month.

Sales of other goods gained 20.9 percent monthly in May and cultural and recreation goods grew 16.5 percent. Sales of automotive fuels increased 7.9 percent.

Excluding motor vehicles and gas stations, retail sales rose 2.4 percent monthly in May, following a 5.6 percent increase in the preceding month.

On a year-on-year basis, retail sales increased 7.8 percent in May, following a 3.6 percent rise in the prior month.

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