Sweden Retail Sales Growth At 15-Month High

Sweden’s retail sales growth quickened to a fifteen-month high in July, figures from Statistics Sweden showed Friday.

The retail sales volume grew a working-day-adjusted 5.9 percent year-over-year in July, faster than June’s 4.1 percent increase. This is the highest since April 2014, when sales had risen 6.3 percent.

Economists had expected the growth to accelerate to 5.5 percent. In May, sales volume has risen 4.2 percent.

Retail sales for durables rose 12.6 percent in June from a year ago, while that of consumables dropped by 1.7 percent.

On a monthly basis, retail sales increased a seasonally adjusted 0.5 percent in July, in line with economists expectations, following the 0.3 percent rise in the previous month. In May, sales had fallen 0.1 percent.

In the May to July period, total retail sales volume rose by 0.6 percent compared with the previous three-month period.

The material has been provided by InstaForex Company – www.instaforex.com