The Market Quotes Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.
Unexpected growth in Swedish Retail trade in MarchFriday, 27 April 2012
March was another strong month for Swedish retailers. In the first quarter the Swedes after a weak 2011 re-opened their wallets.
According to statistic Sweden, retail trade sales volume increased by 4.5 percent in March compared to the same month last year. Retail sales for consumables increased by 2.0 percent while retail sales for durables increased by 6.5 percent. The information is working day adjusted.
The turnover for retail trade measured in current prices increased by 5.2 percent from March 2011 to March 2012. Retail trade for consumables (such as goods sold in department stores and specialised grocery stores) showed an increase of 5.8 percent while durables (such as clothing stores, furniture stores, second-hand goods stores and mail order houses) increased by 4.7 percent, according to official data from statistic Sweden and HUI research.
In a comment, Hui research wrote that “the strong sales increases in March have contributed to the fact that the first quarter has exceeded all expectations. The increase in sales for the first quarter was 4.5 percent. The explanation lies within the increasing optimistic consumer confidence due to less worry about the financial crisis, combined with low interest rates and a stable housing market.”
The retail trade sales volume increased by 0.2 percent from February 2012 to March 2012. During the last three-month period (January to March), the sales volume increased by 1.7 percent compared to the previous three-month period (October to December). Both of these figures are working day adjusted and seasonally adjusted.
News sources: Statistic Sweden, by Scancomark.se Team
What do you think about this article and us? Please leave a comment!