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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NORWAY
Norwegian real retail sales (ex-motor vehicles) rose 1.8% on a 3m/3m SA basis in May (vs 0.4% prior), while sales excluding motor vehicles and fuel rose 2.3% (vs 0.6% prior).
- The monthly reading of 3.2% M/M was much stronger than the 0.5% median consensus, but this was formed of just four analysts.
- Norges Bank regional network respondents expected retail sector output to be 0.1% Q/Q in both Q2 and Q3. Thus, although the sector looks to return to growth soon (supported by the latest data), overall conditions remain subdued.
- The index of household goods consumption, which feeds directly into the GDP calculation, rose 0.5% 3m/3m (vs -0.6% prior), but fell 0.4% on a monthly basis after April’s 3.2% reading. Electricity and heating fuels weighed on the index, falling 12.0% 3m/3m.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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