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Financial News: Sweden Retail Sales Growth Slows; Trade Surplus Rises

Sweden Retail Sales Growth Slows; Trade Surplus Rises

08/27/2021 - 05:22:00 (RTTNews)

(RTTNews) - Sweden's retail sales increased at a softer pace in July and the trade surplus increased from last year, figures from Statistics Sweden showed on Friday.

Retail sales rose 5.4 percent year-on-year in July, after a 8.5 percent increase in June. Sales grew for the seventh consecutive month.

Retail sales in durables gained 7.0 percent in July and those of consumables, excluding sales at the state-owned chain of liquor stores increased 3.9 percent.

On a monthly basis, retail sales fell a seasonally adjusted 1.2 percent in July.

The trade surplus decreased to SEK 7.1 billion in July from SEK 3.9 billion in the same month last year. In June, the trade surplus was SEK 9.5 billion.

Exports rose 22.0 percent annually in July and imports grew 19.0 percent.

On a seasonally adjusted basis, the trade surplus decreased to SEK 5.2 billion in July compared with a surplus of SEK 4.5 billion in the previous month.

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