The Swedish retail sales rose by 4.0 percent year on year in January in fixed calendar-adjusted prices, according to data from Statistics Sweden and HUI Research.
According SIX News analyst survey was expected a rise of 3.8 percent. The range of expectations ranged between +3.1 and +4.3 percent with a median of +4.0 percent.
The monthly rate was retail +0.7 percent. Analysts had expected +1.2 percent (range +0.6 to +1.6 per cent).
Last month rate of increase in the revised +4.0 percent in annual terms (preliminary +3.4 percent ).
Grocery sales increased by 1.9 per cent in fixed calendar-adjusted prices, while retail sales for durables increased by 5.6 percent.
Grocery sales increased by 2.6 per cent in current prices in January while retail sales for durables increased by 3.4 percent.
in terms of current prices, sales for retail by 3.0 percent between January 2016 and the same month the year before.
“in January, along with February retail sales weakest months. January sales are just over 1.3 percentage points lower than the annual average. This year, however, retail sales helped along by the snow and cold made the season premiere in January in most parts of the country and drive sales, “commented HUI Research.
“Household consumption capacity remains favorable. the low interest rate, low inflation and a strong labor market means that retail is expected to be a strong growth engine of the Swedish economy. The retail sector has shown growth every year sedan1997 and for 2016 the forecast is that growth continues strong, but it does not quite reach the 2015 level. This is because of the inhibiting factors like higher taxes and more stringent repayment requirements. HUI’s forecast for 2016 is 4.0 per cent of total retail sales, “continues HUI Research.
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