Norway's retail trade climbed 5.7 percent from a month earlier in June 2020, following a 2.8 percent increase in May and a 4.8 percent jump in April, suggesting that consumers in the last couple of months have changed their consumption pattern in the direction of spending less on services, and more on certain retail goods. In addition, the border closure with Sweden meant that Norwegian consumers that usually look for cheaper consumer goods outside their home country had to turn to the domestic market. Grocery stores continued the positive development they have had throughout the coronavirus pandemic and are now selling at record levels, and clothing stores also had a significant contribution to the overall growth following a sharp decline in sales in the start of the pandemic. Gas stations and shoe stores also contributed to the overall growth. Year-on-year, retail sales jumped 13.7 percent, the most on record.
Retail Sales MoM in Norway averaged 0.17 percent from 1979 until 2020, reaching an all time high of 15.40 percent in January of 1989 and a record low of -9 percent in February of 1987. This page provides - Norway Retail Sales MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Norway
Retail Sales MoM in Norway is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in Norway to stand at 0.50 in 12 months time. In the long-term, the Norway Retail Sales MoM is projected to trend around 0.50 percent in 2021, according to our econometric models.