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Financial News: Norway Retail Sales Rise Less Than Expected

Norway Retail Sales Rise Less Than Expected

03/27/2024 - 03:28:00 (RTTNews)

(RTTNews) - Norway's retail sales increased at a slower-than-expected pace in February, preliminary data from Statistics Norway showed on Wednesday.

The volume of retail sales rose a seasonally adjusted 0.1 percent month-on-month in February, following a flat change in the previous month. Economists had expected a 0.2 percent gain for the month.

Retail sales in non-specialised stores rose 0.7 percent, and sales of other goods grew by 1.4 percent.

On the other hand, sales of cultural and recreational goods showed a decline of 3.5 percent, and those for food and beverages slid by 0.7 percent.

On a yearly basis, retail sales declined at a slower pace of 0.3 percent in February, following a 1.1 percent fall a month ago.

Separate official data showed that household consumption of goods rebounded 0.9 percent monthly in February versus a 1.8 percent decline in January.

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