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Financial News: Sweden Producer Prices, Retail Sales Grow; Trade Balance

Sweden Producer Prices, Retail Sales Grow; Trade Balance Swings To Surplus

01/28/2020 - 06:53:00 (RTTNews)

(RTTNews) - Sweden's producer prices rose to the highest level in four months in December, retail sales improved, and the trade balance registered a surplus, figures from Statistics Sweden showed on Tuesday.

The producer price index rose 1.3 percent year-on-year in December, following a 1.2 percent increase in November.

The latest increase in inflation was the highest since August, when it was 1.4 percent.

Import prices grew 5.2 percent annually in December and rose 0.9 percent from the previous month.

Export prices rose 2.0 percent in December and declined 1.2 percent a month ago.

On a monthly basis, producer prices fell 0.5 percent in December.

Separate data from the statistical office showed that the retail sales gained 3.4 percent year-on-year in December, after a 1.8 percent rise in November. In October, sales increased 3.4 percent.

Retail sales in consumables, excluding sales at the state-owned chain of liquor stores, rose by 0.3 percent and retail sales in durables increased by 5.5 percent.

On a monthly basis, retail sales fell a seasonally adjusted 0.5 percent in December. This was in line with economists' expectations.

Another data from Statistics Sweden showed that the trade balance registered a surplus of SEK 0.3 billion in December versus a deficit of SEK 7.2 billion in the same month last year. In November, the trade surplus was SEK 2.7 billion.

Exports rose 5.0 percent annually in December, while imports decreased 1.0 percent.

On a seasonally adjusted basis, the trade surplus increased to SEK 1.4 billion in December, compared with a surplus of SEK 0.5 billion in the previous month. In October, the trade surplus was SEK 0.2 billion.

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