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Retail Sales Continue Gradual Improvement

SWEDEN
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Swedish real retail sales rose 0.3% M/M SWDA in April, with March’s print revised four tenths higher to 0.0%. There was no consensus for the print.

  • On a 3m/3m SWDA basis, sales rose 0.7% (vs 0.4% prior), the fifth consecutive positive monthly development. Retail sales in consumables rose 1.1% 3m/3m while durable sales fell 0.5%.
  • The gradual recovery of retail sales is consistent with improving retail sentiment and household consumption in recent months.
  • Elsewhere, annual household lending remained subdued, rising 0.5% Y/Y in May (vs 0.6% prior).
  • Overall, these statistics should not change the outlook for the Riksbank ahead of the June 27 meeting, where rates will most likely be kept on hold.

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Swedish real retail sales rose 0.3% M/M SWDA in April, with March’s print revised four tenths higher to 0.0%. There was no consensus for the print.

  • On a 3m/3m SWDA basis, sales rose 0.7% (vs 0.4% prior), the fifth consecutive positive monthly development. Retail sales in consumables rose 1.1% 3m/3m while durable sales fell 0.5%.
  • The gradual recovery of retail sales is consistent with improving retail sentiment and household consumption in recent months.
  • Elsewhere, annual household lending remained subdued, rising 0.5% Y/Y in May (vs 0.6% prior).
  • Overall, these statistics should not change the outlook for the Riksbank ahead of the June 27 meeting, where rates will most likely be kept on hold.