Norway's retail trade dropped 4.9 percent from a month earlier in August 2020, the first decrease in retail trade since March. The largest contribution to the overall decline came from grocery stores, stores selling sporting equipment and furniture shops. Clothing stores and electronic stores also had a reduction in the sales volume this month. The only branch that experienced noticeable growth was pharmacies which somewhat dampened the total decline. On a yearly basis, retail trade rose 8.2 percent in August, after a 13.8 percent jump in July, as regulations imposed to limit infections have contributed to Norwegians changing their consumption pattern in the direction of spending less on services, and more on retail goods.
Retail Sales MoM in Norway averaged 0.16 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 September of 2020. source: Statistics Norway
Retail Sales MoM in Norway is expected to be -2.60 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 0.60 percent in 2021 and 0.50 percent in 2022, according to our econometric models.