Swedish retail sales rise above expectations in March, Riksbank to stay on hold for long

Swedish retail sales rose in the month of March. Sequentially, retail sales rose 0.5 percent, whereas it rose 1.9 percent year-on-year. Previous months’ data was revised upwardly a bit. The outcome of March was above expectations.

The March sales figures are healthy considering that the late Easter possibly were a drag on the year-on-year figure.

The rising trend seen last summer is expected to continue, albeit below the Riksbank’s rather optimistic view on household demand, said Nordea Bank in a research report.

“Sluggish domestic demand is yet another factor suggesting that the Riksbank will stay on hold for long”, added Nordea Bank.