Norway Retail Sales Fall More Than Expected In May

(RTTNews) - Norway's retail sales declined more-than-expected in May, figures from Statistics Norway showed Monday.

Retail sales volume, excluding motor vehicle, fell a seasonally adjusted 3.4 percent month-over-month in May, reversing the 2.0 percent increase in the previous month. Economists had expected sales to fall to 1.8 percent.

Most segments registered a decline in sales volume, particularly sales of grocery stores and that of food, beverages and tobacco in specialized stores.

On a yearly basis, retail sales volume declined a working-day-adjusted 0.3 percent in May. Meanwhile, retail sales value rose by 0.9 percent.

In the March to May period, total retail sales volume expanded a working-day-adjusted 1.6 percent compared with the corresponding period of the previous year. Retail sales value also grew by 3.1 percent.