Swedish Retail Sales Grow At Slower Pace In November

(RTTNews) - Swedish retail sales increased 0.1% month-on-month in November after adjusting to seasonal variations, Statistics Sweden said Tuesday. However, the pace of growth was slower than the 0.6% recorded in October.

Year-on-year, sales grew 5.3% at constant prices on a working day adjusted basis. This was stronger than the 4.8% growth in the previous month. Sales of consumer durables increased 1.5% annually, while that of durables rose 8.5%.

Optimistic households and early winter are probably the explanations for November's strong outcome, the Swedish Retail Institute said. At current prices, retail sales grew 7% year-on-year compared to 2% rise in the previous month.