Norway's retail sector saw a slight and unexpected decline at the close of 2024, according to preliminary figures released by Statistics Norway this Tuesday.
Retail sales volume experienced a seasonally adjusted decline of 0.1 percent month-on-month in December, in contrast to a 0.4 percent increase observed in November. Economists had projected a modest 0.2 percent growth.
Sales in the information and communication technology (ICT) segment fell sharply by 9.8 percent over the month, and food product sales decreased by 4.0 percent. Conversely, the sale of cultural and recreational goods witnessed an increase of 1.1 percent.
Year-on-year, retail sales grew by 0.7 percent in December, building on a 0.2 percent rise recorded in the previous month.
