Norway’s retail sales rebound 1.2% in July

Retail sales in Norway have increased 1.2% in July over June, the latest data by Statistics Norway showed.

The latter followed a 5.1% slump in June and topped market consensus of a 0.9% surge.

In July, sales rebounded for:

– non-specialized stores (1.5% after a 6.4% slump in June);
– food and beverages (1.3% after a 4.9% drop in June);
– automotive fuel (1.4% after a 4.8% decrease in June);
– cultural and recreation goods (7.5% after a 5.8% slump in June).

At the same time, retail sales went down for information and communication equipment (-3% in July after an 8.6% rise in June).

In annual terms, retail sales in Norway shrank 0.5% in July, after another 3% contraction in June.

The Norwegian Krone was last 0.33% firmer on the day against the Euro, with the EUR/NOK currency pair trading at 11.6344 ahead of German, French and Euro Area preliminary CPI inflation figures for August.