Retail Sales m/m is a monthly indicator of a percentage change of retail sales of goods and services in the reported month compared to the previous month. It reflects a change in actual value including VAT. For this indicator version, a seasonally adjusted data series is used, weekends and holidays are also taken into account.
The indicator of monthly retail sales participates in the calculation of GDP and its components, which are used for monitoring the state of economy and developing the monetary policy. Retail Sales growth indicates an increase in consumer activity and can have a positive impact on the NOK quotes.
