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Swedish retail sales up 7.0 percent in November

The turnover for Swedish retail trade measured in current prices increased by 7.0 percent from November 2014 to November 2015.

In volume, the Swedish retail trade sales volume increased by 5.2 percent in November compared with the same month last year. Retail sales for consumables increased by 2.0 percent while retail sales for durables increased by 7.5 percent. The information is working day adjusted.

Retail trade turnover for consumables showed an increase of 4.6 percent, while durables (such as clothing stores, furniture stores, second-hand goods stores and mail order houses) increased by 8.8 percent.

During the last three-month period (September through November), the sales increased by 1.3 percent compared with the previous three-month period (June through August). Both of these figures are in constant prices, working day adjusted and seasonally adjusted.

During the period January – November sales increased by 5.8 percent.

”2015 has been a very strong year for retail trade with a growth rate not seen since before the financial crisis. This development is largely due to the strong purchasing power of households, low interest rates, and increases in real wages. The growth rate for November is probably also explained by Black Friday, a relatively new phenomenon in Sweden which reinforced the sales boom we have seen during the year. Statistics from price comparison sites suggest that consumers were price-conscious during Black Friday, which indicates that discounts and low prices are significant driving forces for sales growth.” comments HUI Research.

When adjusted for price changes the growth rate of consumables was 2.0 percent. The rate of price increase for November was 2.6 percent, which is the lowest rate in 3 months. HUI wonders if food prices, which have been inflationary, are starting to decrease when the industry has become more focused on prices after the summer months.

”The durables sales trend we have seen during the year was reinforced in November when home hardware, electronics, clothes and furniture showed strong growth. Despite the fact that sales in durables increased significantly, the rate of price increase was 0 percent.”

HUI predicts that the retail year of 2015 will finish strongly with a sales growth of 5.0 percent in December.

Sales development Sweden 2015/2014:

Current prices

Working day
adjusted,
constant prices

Price
change
Working
day effect
Nov.% 2015% Nov.% 2015
%
Nov.% Nov.%
Retail sales for consumables
4.6 4.0 2.0 1.4 2.6 -0.1
Retail sales for durables
8.8 7.4 7.5 8.1 0.0 1.2
Total retail trade
7.0   5.8 5.2 5.1 1.1 0.6

Source: SCB

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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) |