Norway Retail Sales Fall 0.7% In July

(RTTNews) - Norway's retail sales declined in July after rebounding in the previous month, preliminary data from Statistics Norway showed on Friday.

The volume of retail dropped a seasonally adjusted 0.7 percent month-on-month in July, reversing a 1.6 percent increase in June, which was the fastest growth since May 2024.

The contraction in July was mainly driven by 2.8 percent fewer sales in automotive fuel and a 2.1 percent decline in demand for ICT equipment. Sales of other household equipment decreased 0.9 percent, and retail sales of food items also showed a fall of 1.0 percent. Meanwhile, sales of other goods were 1.8 percent higher.

On an annual basis, retail sales fell at a faster pace of 2.0 percent in July versus a 0.5 percent decrease in the prior month.