Financial News: Sweden Retail Sales Fall 7.5%

Sweden Retail Sales Fall 7.5%

02/27/2023 - 09:28:00 (RTTNews)

(RTTNews) - Sweden's retail sales continued its declining trend in January, as sales of both durable and consumer goods contracted, figures from Statistics Sweden showed on Monday.

Retail sales fell a working-day adjusted 7.5 percent year-on-year in January, faster than the 6.9 percent decrease in December. Sales have been falling since May 2022.

Sales of durable goods dropped 9.9 percent annually in January, and those of consumables, excluding sales at the state-owned chain of liquor stores, slid 5.0 percent.

On a monthly basis, retail sales edged down 0.1 percent in January versus a 1.0 percent fall in December. Sales decreased for the second straight month.

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