Increase in retail sales
The seasonally-adjusted volume index of retail sales increased by 0.3 percent from August to September 2020. This follows a decrease of 4.8 percent from July to August.
New figures from the retail trade index show an increase in the seasonal adjusted volume for September. Despite the strong decrease in retail sales the previous month the volume still remains considerably higher than before the corona pandemic. The pandemic and regulations imposed to limit infections have contributed to Norwegians changing 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 made the seasonally adjusted figures more volatile.
1 March 2020 and the subsequent months are specified as outliers in the seasonal adjustment routine. Hence, the trend figures for the latest months are not included in the figure.
Figure 1. Retail sales volume index, seasonally adjusted and trend. 2015=100
Furniture and clothing shops contributed to growth
Many branches of the retail sector experienced an increase in the seasonally adjusted volume index in September. The largest contribution to the overall growth came from furniture shops and clothing stores. On the other side grocery stores had a reduction in sales volume this month, and contributed negatively to the overall index.
Index of household consumption of goods
The index of household consumption of goods, which shows the consumption of goods in Norwegian households, is normally published simultaneously with the retail sales index. Due to change of the base year the index of household consumption goods will be published in conjunction with the quarterly national account November 12 instead of October 28.