Sweden’s retail sales continues to beat all expectations

For the second straight month Sweden's retail has beat expectations. Following already strong readings in recent months, retail sales inched further in November. Retail sales increased by 0.4% over the month and by 5.2 % over the year.

Sales of durable goods were up 7.5% y/y, while non-durable goods rose by 2.0%. Today's figures from Statistics Sweden confirm the view that we are in the midst of a booming domestic economy.

Elsewhere, figures showed that producer prices fell by 0.1% m/m in November, pulled down by falling energy prices (no consensus available). 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.