Macroeconomics
Retail sales in Norway fell more than expected in December.
the Article is added to your reading list.
retail sales excluding motor vehicles fell by 2.1 per cent in December, shows the seasonally adjusted volumindeksen as Statistics norway (SSB), put forward on Thursday.
-It is a really bad detaljhandelstall, ” says Eric Bruce, chief analyst at Nordea.
It was expecting a fall of 0.3 per cent, according to estimates collected by Bloomberg News, but the fall was far greater.
the Decline comes after a growth of 0.2 per cent in november and 0.9 percent in October.
Services saves the economy
Bruce believes weak detaljhandelsutvikling hangs together with the fact that the norwegians in the last year have had a relatively solid reallønnsnedgang. Wages have increased around two percent, while prices of goods have increased approximately 3.5 percent. Weakened Norwegian krone, it contributes by providing more expensive imports, and figures from the SSB is adjusted for rises in prices. As measured in nok has trade increased, but we got less gifts for the money than the year before.
-the Growth in the consumption of services has held up much better. It is therefore the Norwegian economy has fared relatively well, says Bruce.
He points out that tjenesteandelen of the economy increases, a development that is now probably helped by the fact that the services in larger extent is produced locally in Norway, and that the price thus does not go up because of the weakened dollar. At the same time, there is an international trend towards a larger share of services in the economy, says Bruce.
Growth of ecommerce
most of the industries had a decline in sales volume from november to December of this year. Sales in the grocery stores and spesialforretningene with the sale of food and drink contributed particularly to the decline.
“The only industries that had growth in sales volume from november to December, was e-commerce, sales of building materials, toy shops and pharmacies,” writes STATISTICS norway in a message Monday.
so-Called virkedagskorrigerte figures show that the sales volume to detaljhandelbedriftene went down by 0.7 per cent in the period October-December of last year compared with the same period in 2015.
Blåmandag for black Friday
Household kjøpelyst also fell markedly in the julemåneden. Household spending on goods fell by 1.7 per cent from november to December. There was a decrease in all commodity groups excluding the purchase and operation of cars.
the Consumption of clothing, shoes, furniture, sports equipment and other sports goods fell by 2.9 per cent in December.
STATISTICS norway writes that the decline of these items should be viewed in conjunction with strong novembertall, partly as a result of Black Friday.
Better prospects for the 2017
Bruce expect that 2017 will be something better for retail trade than 2016, partly because wage growth is expected to rise from around 2 per cent to 2.5 per cent in the course of the year, as well as the rise in prices of goods is expected to decline towards two per cent.
- With reallønnsnedgang, it is not really good news that people put consumption by industry?
-For your own wallet it makes sense, but for the country’s economy, we should have an increase, ” says Bruce, who points out that last year’s growth to be rescued by a growth of 3.5 per cent in tjenesteforbruket.
(the Case is updated)
No comments:
Post a Comment