Mixed Global Retail Sales
Retail Sales Show Mixed Results Across Bermuda and Northern Europe Amid Inflation
Anonymous
Retail trends varied across Bermuda and northern Europe. In Bermuda, inflation-adjusted sales volume fell 3.2% year over year in April, ending a four-month run of gains; building-materials and apparel stores had the steepest reported declines. Lithuania’s retail sales grew 3.7% year over year in August, slowing for a fourth consecutive month, though they edged up 0.1% from July. Norway’s retail sales rose 0.6% month over month in August, rebounding from July’s decline, but remained 1% lower than a year earlier.
Key Points
1
In Bermuda, retail spending in dollar terms rose 1.2% year over year to $113.2 million even as inflation-adjusted sales volume fell; retail inflation was estimated at 4.5%.
2
Norway’s August monthly rebound was broad in several categories: automotive-fuel sales rose 5.3%, food and beverages increased 0.7%, and cultural and recreation goods climbed 1.9%. ICT-equipment sales, however, fell 3.7%.
3
Lithuania’s online and mail-order sales growth slowed to 3.2% from 7.0% in July, while sales of information and communication equipment, cultural and recreation goods, watches, and jewelry accelerated to 6.6% from 0.7%.
Sentiment
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