Sweden's retail sales growth exceeded economists' expectations in February, data released by Statistics Sweden showed Thursday.
Retail sales increased a seasonally adjusted 1.2 percent on a monthly basis in February, markedly faster than the 0.2 percent growth recorded in January, which was revised up from 0.1 percent. Economists were looking for a 0.1 percent growth for February.
Retail sales of consumable goods increased 1.9 percent annually, while sales of durable goods advanced by 4.6 percent during the month.
On an annual basis, retail sales grew a working-day adjusted 3.4 percent in February, sharply faster than January's 1.6 percent growth, which was revised up from 1.5 percent. Economists expected the growth rate to remain unchanged.
In the three months ended February, retail trade rose a seasonally adjusted 1.4 percent from the preceding three-month period. Annually, sales advanced 2 percent in the December-February period.
by RTT Staff Writer
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