Retail sales in Denmark expanded modestly 0.03 percent in May on a month-on-month term, its Statistics Department release revealed. This figure was arrived at after adjusting for the seasonality.
Clothing, etc. recorded an increase of 1.1 percent in May for Retail sales to expand. Similarly, other consumer products category advanced 0.1 percent in the same period. On the other hand, food and other groceries fell 0.3 percent in May.
The official release pointed out that retailers’ business cycles remained cautiously positive in May. This was in line with the DOI which has been witnessing an increase in the last five months. However, it was not only in Denmark but the entire Euro Zone remained cautiously positive.
After adjusting for price developments, retail sales recorded 1.6 percent growth in May on a year-on-year basis. While food and other groceries witnessed 1.6 percent drop, garments sales expanded 0.7 percent. Similarly, other consumer products expanded 5.0 percent.