Norway’s retail sales decrease 5.1% in June

Retail sales in Norway have decreased 5.1% in June over May, the latest data by Statistics Norway showed.

The latter followed a revised up 4.7% growth in May.

In June, sales were lower for:

– food and beverages (-7.6% after a 6.3% surge in May);
– other goods (-7.3% after a 7.7% increase in May);
– non-specialized stores (-6.4% after a 5.8% surge in May);
– cultural and recreation goods (-6% after a 5.9% increase in May);
– automotive fuel (-5% after another 0.4% drop in May);
– other household equipment (-1.3% after another 0.8% slump in May).

At the same time, retail sales went up for ICT equipment (8.8% in June after a 1.2% drop in May).

In annual terms, retail sales in Norway shrank 3% in June, following a revised up 3.5% growth in May.

The USD/NOK currency pair settled 0.20% lower at 11.0027 on Friday. For the week, the exotic currency pair advanced 1.01%.