Norway’s core retail sales fell 0.7% month-on-month in December 2025, reversing the previous month’s growth, according to data updated on 30 January 2026. The decline follows a 1.2% increase in November 2025, highlighting a notable loss of momentum in consumer spending at year-end.
On a month-over-month basis, the latest figure shows that the strength seen in November did not carry into December, with the “actual” change now turning negative compared with the prior month. By contrast, the “previous” reading for November reflected a solid expansion versus October, underscoring how quickly conditions softened.
The downturn in December’s core retail sales, which exclude more volatile components, may raise questions about the resilience of underlying domestic demand as Norway transitions into 2026. Market participants will be watching upcoming releases closely to assess whether this pullback is temporary or the start of a broader cooling in consumer activity.
