NORDIC BUSINESS REPORT-8 January 2010-Norway Dec '09 retail sales drop 1.1% M/M(C)1994-2010 M2 COMMUNICATIONS
8 January 2010 - Norway's seasonally-adjusted retail sales index, measured by volume, went down by 1.1% month-on-month in November 2009, following a 2.4% increase in the previous month, Statistics Norway replica rolex said today.
According to the market consensus, a decline by 0.3% was expected.
The decline was registered in most industries.
Stores, selling clothes and shoes contributed strongly to the drop, according to Statistics Norway.
fake rolex"The trend in retail sales and goods consumption is, no doubt, strongly rising, yet we think that the growth of a whole 2.4% in October was partly marked by noise. The trend is more moderate and after strong figures there is often a decline," Eric Bruce with Nordea Markets said in a report, sent Friday morning before the official figures were released.
Nordea therefore expected a decline of 1.5% on the month and a growth by 1.6% on the year in November 2009.
The non-adjusted volume index dropped by 1.3% year-on-year in November 2009.
In the same period, the volume index, excluding petrol stations, rose by 2.1%.
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