Retail sales in Norway returned to growth in May after falling in the previous month, and the rate of growth exceeded economists' forecast, data released by Statistics Norway showed Friday.
Retail sales volume, excluding sales of motor vehicles, increased a seasonally adjusted 1.7 percent month-on-month in May, reversing the previous month's moderate decrease. Economists were looking for a 0.5 percent rise.
Sales at petrol stations and shops selling groceries, clothing and footwear contribute especially to the sequential increase in trading volume, the agency said.
Sales, excluding motor vehicles and sales on petrol station, were up by a seasonally adjusted 1.6 percent in May compared to April.
Year-on-year, retail sales increased 4.1 percent, while economists were looking for a 3.6 percent gain. In the January-May period, sales advanced 4.4 percent from the corresponding period a year earlier, data showed.
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org