Sweden November retail sales confirm booming domestic economy

Sweden's November retail sales came over expectations. Following the strong existing readings in recent months, the retail sales climbed further in this month.

There is a rise of 0.4% in the retail sales over the month and of 5.2% over the year. Durable goods sales rose 7.5%, while non durable goods went up by 2%. Today's figures from Statistics Sweden confirm the view that we are in the midst of a booming domestic economy.

"The year-on-year figure for import prices for consumption goods rose to 3.4% from 2.9% in October. However, the uptick in import prices is probably temporary and the year-on-year figure will most likely decline going forward", says Nordea in a research note.