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Slower Swedish retail growth in August

Swedish retail sales continues upwards, but with a slower growth speed in August.

Sales of consumables grew 2.0 percent with the help from price increases.

Retail sales development 2015/2014:

Sweden

Current
prices

Working
day
adjusted,
constant
prices

Price
change
Working
day
effect
Aug.% 2015% Aug.% 2015% Aug.% Aug.%
Retail sales for consumables
2.0 2.7 0.5 0.2 2.9 -1.4
Retail sales for durables
0.7 6.3 1.4 7.5 -0.1 -0.6
Total retail trade
1.3 4.7 1.0 4.2 1.2 -1.0

The turnover for retail trade measured in current prices increased by 1.3 percent from August 2014 to August 2015. Retail trade for consumables (such as goods sold in department stores and specialised grocery stores) showed an increase of 2.0 percent, while durables (such as clothing stores, furniture stores, second-hand goods stores and mail order houses) increased by 0.7 percent.

The retail trade sales volume increased by 1.0 percent in August compared with the same month last year. Retail sales for consumables increased by 0.5 percent while retail sales for durables increased by 1.4 percent. The information is working day adjusted. Sales volume decreased by 1.7 percent between July 2015 and August 2015. During the last three-month period (June through August), the sales volume decreased by 0.1 percent compared with the previous three-month period (March through May). Both of these figures are working day adjusted and seasonally adjusted.

”After two strong sales months, retail trade showed a more conservative growth of 1.3 percent in August. A negative calendar effect affected the industry, since August had one extra Monday and one less Friday than last year. Consumables increased by 2.0 percent in current prices. The price increases were higher in August than in previous months, with increases of just under 3 percent. Durable goods decelerated, which partly can be explained by the warm weather, and the industry increased by a conservative 0.7 percent,” comments Carin Blom, HUI Research.

She adds that he furniture trade faced strong comparatives from August last year and exhibited for the first time since July 2013 negative figures. Even the fashion industry had a tough sales month, where sales in both clothing and footwear decreased. Home hardware and paint did considerably better and increased by 14.1 percent and 18.6 percent respectively. In particular, there was a great demand for products associated to interiors and carpentry.

Swedish consumer confidence fell in the latest Tendency indicator, mainly due to a more negative view of the Swedish economy.

”The budget bill for 2016 presented by the government is likely to affect consumer confidence in the future, and many will be affected by tax increases, lower deductions and implemented amortisation requirements. Retailers’ confidence decreased slightly during the same period, but is still at a level well above average,” says Carin Blom.

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Ansvarig utgivare: Björn Nylund bjorn.nylund@scandinavianretail.se ScandinavianRetail.com ges ut av Scandinavian retail newsservice AB, org. nr 556935-9945 | All contacts: contacts@scandinavianretail.se Please allow 24 hrs to respond. | Tel: +46 (0) 760 541 850 (Sweden) | +47 988 29 274 (Norway) | +358 41 36 20 542 (Finland) | +45 266 49 316 (Denmark) |