Continued growth in retail trade in July

bookstoreWoman in a bookstore.Photo: Gorm Kallestad / NTB scanpix

The turnover in the retail trade continued to rise in July, by 0.6 per cent. This is happening after a record high rise of 5.7 percent from May to June.

However, the growth in July is modest compared with the growth in the previous three months, according to Statistics Norway (SSB).

Compared to the same month last year, the growth is as much as 13.8 per cent, but the figures are not directly precisely comparable because of the corona crisis.

As a result of the corona measures, it appears that Norwegians in recent months have shifted their consumption in the direction of spending less money on the purchase of services, and more on the consumption of goods. In addition, trade in Norway is affected by significantly reduced cross-border trade.

Compared with July last year, cross-border trade has been reduced by a whopping 99 per cent.

The largest contributions to the growth came from stores selling books and sports equipment, as well as grocery stores. The grocery stores now sell at a record high level.

Hardware stores, clothing stores and online shopping declined in seasonally adjusted sales volume in July, and thus helped to curb the growth in the total index.

NHO is positive about the figures

“This spring and summer have been important and given the industry muscle to develop. We believe the upswing can be long-lasting”, says CEO Anne-Cecilie Kaltenborn in NHO Service og Handel.

© NTB Scanpix / #Norway Today


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