According to preliminary data from Statistics Norway, retail sales in the country experienced a decline for the first time in four months during December.
There was a month-on-month decrease of 0.9% in retail volume, reversing the steady growth rate of 0.4% observed in the prior month.
There was a significant contraction, a sharp drop of 10.4%, in the retail sales of Information and communication technology equipment compared to the previous month. Additionally, a decline of 5.0% was seen in the sales of cultural and recreational goods.
Contrastingly, there was a minor increase of 0.2% in the sales of food and beverages.
On an annual basis, the decline in retail sales was less severe in December, decreasing at a rate of 0.3%, compared to a 1.5% decline in the previous month.
