Sweden's retail sales growth slowed more than expected in November, data from Statistics Sweden revealed Monday.
Retail sales grew at a pace of 0.5 percent on a monthly basis, slower than the revised 1.1 percent increase seen in October. Economists had forecast a 0.7 percent rise for November.
The retail sales volume increased 4.5 percent year-on-year in November, the same rate of growth as seen in October.
Retail sales for consumables gained only 1.5 percent, while that for durables surged 7.1 percent from last year.
During three months to November, the sales volume increased 1.4 percent compared to the previous three-month period.
The think tank HUI Research said the big day for sales called Black Friday was established in Sweden this year and started the Christmas shopping season for some industries at the end of November. The HUI forecast for December is a growth of 2.5 percent.
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