Swedish retail sales data came in positive in September. On a sequential basis, retail sales rose 0.8 percent. On a year-on-year basis, sales were up 3.9 percent. Today’s data came in above expectations.
Overall, the retail sector continues to show good growth, while other parts of consumption is softer. Consumers’ financial is strong and the labor market has turned to the better, which indicates toward to a continued solid retail sales and a rebound in total consumption, said Nordea Bank in a research report.
“Obviously, the worsened COVID-19 situation increases the uncertainty”, added Nordea Bank.
