Norway Retail Sales Expand Most Since May 2024

(RTTNews) - Norway's retail sales grew at the quickest pace in just over two years in May after declining in the previous month, preliminary data from Statistics Norway showed on Wednesday.

The volume of retail rebounded a seasonally adjusted 1.8 percent month-on-month in June, following a 2.4 percent decrease in May. Moreover, this was the fastest growth since May 2024, when sales rose 5.0 percent.

Sales of cultural and recreational goods grew the most by 3.8 percent, and those of food and beverages were 1.8 percent higher. There were 1.6 percent more sales in non-specialized stores, while automotive fuel sales continued to decline by 3.0 percent.

On an annual basis, retail sales fell at a slower pace of 0.3 percent in June versus 2.3 percent in the prior month.