June Retail Sales Show Rise in Sweden

There was a better-than-expected 3.3% growth year-on-year in June, indicating that the economy may have slowed slightly less than forecast in the second quarter.

Sales were up 1.8% when compared to
May. In May, retail sales rose an upwardly revised 1.0%
month-on-month, and were up 1.3% year-on-year. The Swedish Retail
Institute said lower consumer confidence had affected electronics and
furniture retailers, as well as clothing and shoe sales. It added,
"Rising food prices reduce purchase power which causes a slower
sales growth for capital goods. The development is however still
positive".