Loading page content
Data from FMP. Forecasts by Sigmanomics Forecast Engine.
NorwayNorway Retail Sales YoY climbed to 0.6% in March 2024
FMPMonthlyReleased April 2024
Norway Retail Sales YoY climbed to 0.6% in March 2024, released April 2024, up 0.9% from February's -0.3% reading. The print exceeded the -0.3% consensus by 0.9%. Retail Sales YoY has now risen for 3 consecutive months. Over the past 3 months, Retail Sales YoY averaged -0.75%, vs -0.9% in the prior 3-month window. Retail Sales YoY is now the highest in 33 months.
Latest Release
0.6
Actual
-0.3
Consensus
-0.3
Previous
Median Absolute Error
±1.01 percentage points
across last 6 releases
Last Call
Apr 2024
Predicted: -0.45
Actual: 0.6
Error: -1.05
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/NOK | ▼ Inverse | −0.50 | FOREX | Bullish NOK | → View |
| EUR/NOK | ▼ Inverse | −0.45 | FOREX | Bullish NOK | → View |
| WTI Crude | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Retail Sales YoY (Norway) was reported at 0.6% in April 2024. This beat the market consensus of -0.3% by 0.9%. The reading rose from the previous value of -0.3%.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged -0.3%, up from the prior three at -0.9%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/NOK (Bullish NOK). A secondary relationship exists with EUR/NOK, negatively correlated (Bullish NOK). Over the last 6 releases, the Sigmacast model's median absolute error is 1.01%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Norges Bank Interest Rate Decision (Jun 18) and Interest Rate Decision (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update April 2024.
SHARE
Retail Sales YoY - NO
Loading chart data...
About Retail Sales YoY — Norway
DEFINITION
Retail Sales YoY (Year-over-Year) is a financial indicator that measures the change in the total value of goods and services sold by retailers compared to the same period in the previous year. It provides insight into the strength of consumer spending and overall economic growth, making it a key metric for investors, businesses, and policymakers. A positive YoY growth indicates an increase in consumer demand, while a negative growth may signal a decline in consumer confidence and potential economic slowdown.
WHY THIS INDICATOR MATTERS
Consumer activity accounts for the majority of GDP in advanced economies, making spending data a key cyclical signal for retail and discretionary sectors. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2024): actual 0.6 %, consensus -0.3 %. Prior reading (Feb 2024): -0.3 %. Before that (Jan 2024): -1.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/NOK (Bullish NOK, r=-0.50) — a useful reference for forex-focused traders.