For the second straight month Sweden's retail has beat expectations. Following already strong readings in recent months, retail sales inched further in November. Retail sales increased by 0.4% over the month and by 5.2 % over the year.
Sales of durable goods were up 7.5% y/y, while non-durable goods rose by 2.0%. Today's figures from Statistics Sweden confirm the view that we are in the midst of a booming domestic economy.
Elsewhere, figures showed that producer prices fell by 0.1% m/m in November, pulled down by falling energy prices (no consensus available). The year-on-year figure for import prices for consumption goods rose to 3.4% from 2.9% in October. However, the uptick in import prices is probably temporary and the year-on-year figure will most likely decline going forward.
