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Surprise fall in Swedish Retail trade in May 


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Tuesday, 28 June 2011
Swedish retail trade sales volume decreased by 1.1 percent in May compared to the same month last year.

According to statistic Sweden and the Swedish retail Swedish Retail Institute which provide the figure, retail sales for consumables decreased by 0.8 percent while retail sales for durables decreased by 1.3 percent. The information is working day adjusted.

Analysts had expected a rise of 1.8 percent, according various consensuses forecasts. The figures are adjusted for calendar year and refers to fixed rates.

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The turnover for retail trade measured in current prices increased by 1.5 percent from May of 2010 to May of 2011. Retail trade for consumables (such as goods sold in department stores and specialised grocery stores) showed an increase of 0.5 percent while durables (such as clothing stores, furniture stores, second-hand goods stores and mail order houses) increased by 2.3 percent.

The retail trade sales volume decreased by 2.3 percent from April to May of 2011. During the last three-month period (March to May), the sales volume decreased by 0.4 percent compared to the previous three-month period (December to February). Both of these figures are working day adjusted and seasonally adjusted.

The Swedish Retail Institute commented that “with the May outcome, the weak trend continues for the retail sector which has started the year somewhat restrained. The positive outcome in April was probably an exception.”

It continues that “the development in May is decent in current prices but if price changes and calendar effects are taken into account, both consumables and durables show a negative development. Behind the negative volume growth in durable goods, however, lies a significant calendar effect explained by more Sundays last year compared to this year.”
By Scancomark.se Team

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