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Norwegian retail trade increased in September after a sharp drop in August. However, growth was less than expected.
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Norwegian retail trade increased 0.3 percent from August to September.
Recently, it shows the recent retail statistics from Statistics Norway on Wednesday.
In advance, retail was expected to grow 0.7 percent on average, according to estimates TDN Direkt has obtained from five brokerages.
However, there were gaps in the estimates. The highest expectation was a 1.8 percent increase and the lowest was a 1.0 percent drop.
Raised clothing and furniture
The biggest contributors to growth in September were trade in furniture and clothing stores. There was also a price increase in these industries the same month.
According to Statistics Norway’s consumer price index, clothing prices increased 1.8 percent from August to September. At the same time, the furniture and accessories segment had a price increase of 1.1 percent.
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Significant drop in August
Today’s figures follow a sharp decline in Norwegian retail trade in August, which then fell 4.9 percent.
However, the sales volume is significantly higher than before the crown crisis, according to Statistics Norway.
Before August, Norwegian purchases had increased for four months in a row, between April and July. The strongest growth was recorded in June, when retail trade increased 5.7 percent.
The corona pandemic has helped Norwegians in recent months shift their consumption in the direction of spending less money on the purchase of services and more on the consumption of goods.
Trade in Norway is also affected by the decline in cross-border trade and fewer trips abroad.
