Swedish retail sales rebound in September, trend remains soft

Swedish retail sales rebounded a bit in September; however, the trend in not impressive. On a sequential basis, retail sales were up 0.5 percent, whereas it rose 2.1 percent on a year-on-year basis. This was consistent with expectations.

Following the sharp fall in the summer, retail sales have rebounded slightly. However, the longer trend remains soft and there remains questions regarding household demand.

Meanwhile, the trend for exports of goods continues to be sluggish, indicates the figures released today. Exports have stayed the same since the turn of the year and softened further in September Indicators have come in mixed, but with decelerating growth in the euro area, trade war looming and Brexit fears, one should not expect a swift rebound in exports going forward, stated Nordea Bank in a research report.