Increase in retail sales
The seasonally-adjusted volume index of retail sales increased by 0.6 percent from June to July 2020. This follows an increase of 5.7 percent from May to June.
New figures from the retail trade index show growth in the seasonal adjusted volume for July. However the growth in July is modest compared to the growth the previous 3 months. The growth in retail trade suggest that Norwegians in the last couple of months have changed their consumption pattern in the direction of spending less on services, and more on retail goods. These changes in the shopping pattern of the Norwegian people have had a strong effect on the seasonally adjusted figures.
Due to the treatment of March and following months as extreme values, the trend for the recent months is not representable for the actual development in retail sales. The trend for the most recent months has therefore been excluded from the figure. For more information on this, see the information box at the bottom of the article.
Figure 1. Retail sales volume index, seasonally adjusted and trend. 2015=100
Book shops and stores selling sporting equipment contributed to the overall growth
Many of the various retail sectors experienced growth in the seasonally adjusted volume index in July. The largest contribution to the overall growth came from book shops and stores selling sporting equipment, as well as grocery stores. Grocery stores continued the positive development they have had throughout the coronavirus pandemic and are now selling at record levels. Stores selling sporting equipment continue the growth they have had since April. Stores selling building materials, clothing stores and e-commerce had a negative contribution to the overall index and thus dampened the total growth.