Norway Retail Sales Slump in June

Retail sales in Norway shrank 5.1% month-on-month in June 2024, after an upwardly revised 4.7% growth in the previous month, due to reduced sales in most product categories.

Declines were seen in sales of food, beverages etc. (-7.6% vs 6.3% in May), other goods (-7.3% vs 7.7%), in non-specialised stores (-6.4% vs 5.8%), cultural & recreation goods (-6% vs 5.9%), automotive fuel (-5% vs -0.4%), other household equipment (-1.3% vs -0.8%), and trade not in stores or stalls (-0.1% vs 0%).

Meanwhile, sales of ICT-equipment rebounded sharply (8.8% vs -1.2%).

On a yearly basis, retail sales fell 3% in June, following an upwardly revised 3.5% rise in the preceding month.