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Norway Retail Sales Fall Unexpectedly In February

Norway’s retail sales declined unexpectedly in February, figures from Statistics Norway showed on Monday.

Retail sales fell 1.1 percent month-on-month in February, after a 0.4 percent growth in January. Economists had forecast a 1.5 percent growth. Sales fell 3.0 percent in December.

Sales of other household equipment declined 4.8 percent monthly in February and those of non-specialized stores decreased 4.0 percent.

Sales of those of food beverages, and culture and recreation fell by 2.1 percent and 1.4 percent, respectively.

Excluding motor vehicles and gas stations, retail sales decreased 1.3 percent monthly in February, after a 0.4 percent increase in the preceding month.

On a year-on-year basis, retail sales decreased 2.9 percent in February, following a 1.6 percent fall in the prior month.

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