Norway's retail trade decreased 0.9 year-on-year in February 2019, reversing from a 1.1 percent rise in the previous month, as sales dropped for other goods (-1.2 percent vs 1.4 percent) and both sales of information & communication equipment (-10.1 percent vs -6.2 percent) and automotive fuel (-3.2 percent vs -0.7 percent) declined faster. In addition, trade growth slowed for: food, beverages & tobacco (0.1 percent from 1.1 percent); trade not in stores, stalls & markets (1.2 percent vs 2.8 percent), trade in non-specialised stores (0.6 percent vs 0.7 percent) while sales of other household equipment stalled (vs 2.1 percent in January). On the other hand, cultural & recreation goods sales rose faster (11.9 percent vs 2.1 percent). On a seasonally adjusted monthly basis, retail trade dropped by 1.3 percent in February, worse than market consensus of a 0.3 percent fall. Retail Sales YoY in Norway averaged 2 percent from 2001 until 2019, reaching an all time high of 8.90 percent in April of 2007 and a record low of -4.40 percent in April of 2016.
Retail Sales YoY in Norway is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Norway to stand at 1.90 in 12 months time. In the long-term, the Norway Retail Sales YoY is projected to trend around 2.20 percent in 2020, according to our econometric models.