Swedish Retail Sales Growth Improves Slightly

Sweden’s retail sales grew at a slightly faster pace in September, household loan growth and producer price inflation slowed, figures from Statistics Sweden showed Friday.

Retail sales increased a working-day adjusted 2.6 percent year-on-year following a 2.5 percent increase in August. Economists had forecast 2.5 percent growth. In July, sale surged 3.8 percent.

Sales of consumables excluding sales in the state-owned liquor stores, grew 0.9 percent, while those in durables climbed 4 percent.

On a month-on-month basis, retail sales edged up a seasonally adjusted 0.3 percent in September, which was slightly less than the 0.4 percent economists had predicted.

The statistical office also reported that the annual growth in household lending slowed to 4.8 percent in September from 4.9 percent in August.

Separate data from the statistical office showed that producer price inflation slowed to 0.3 percent from 1.4 percent in August. Producer prices were unchanged from the previous month.

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