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Sweden Retail Sales Unexpectedly Fall In October

Swedish retail sales decreased modestly in October, after solid gains in the previous two months, defying expectations for further increase, preliminary data from Statistics Sweden showed on Wednesday.

Retail sales decreased a working-day adjusted 0.1 percent year-on-year, after a 2.3 percent gain in September. In August, sales grew 2.1 percent after a modest 0.1 percent fall in July.

Economists had forecast a 0.2 percent sales growth for October.

Sales of consumables excluding sales from the state-owned liquor stores, fell 1 percent, while sales of durables grew 0.4 percent.

Compared to the previous month, retail sales decreased a seasonally adjusted 1.1 percent in October, which was the first fall in four months.

Economists had expected a 0.3 percent gain.

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