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Norway Retail Sales Fall 3.6%, Household Consumption Rises Sharply


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Norway’s retail sales declined at the end of the year after a rebound in November, largely due to a plunge in sales of information and communication technology equipment, preliminary data from Statistics Norway showed on Friday.

Separate official data revealed that household spending logged a remarkable rise in December.

Retail sales rose a seasonally adjusted 3.6 percent month-on-month in December, reversing a 0.8 percent increase in November.?

Retail sales of ICT equipment alone fell by 15.6 percent over the month, and those of other household equipment declined 8.7 percent.?

Sales of cultural and recreation goods showed a negative growth of 5.2 percent, while sales of the food and beverages category showed no variations from a month earlier.

On a yearly basis, retail sales declined at a faster pace of 7.7 percent in December, following a 3.6 percent fall in November.

Separate official data showed that household spending grew sharply by 12.8 percent monthly in December versus only a 2.8 percent gain in the prior month. The same kind of increase has not been observed since the start of the millennium.

The surge in December was mainly attributed to a 67.6 percent jump in purchases of vehicles and petrol.

*Austria Jan UniCredit Bank Manufacturing PMI 48.4 Vs. 47.3 In December

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