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Norway Retail Sales Rise In October

Norway's retail sales rose sharply in October, figures from Statistics Norway showed on Friday.

Retail sales rose 1.2 percent month-on-month in October, after a 0.3 percent increase in September. Economists had expected a 0.1 percent rise.

Sales not in stores grew 9.3 percent monthly in October and those of food and beverages gained 4.2 percent. Sales non-specialized stores and other goods rose by 1.9 percent and 0.8 percent, respectively.

Excluding motor vehicles and gas stations, retail sales rose 1.7 percent monthly in October, after a 0.4 percent increase in the preceding month.

On a year-on-year basis, retail sales increased 10.6 percent in October, following a 8.7 percent rise in the prior month.

Separate data from the statistical office showed that the household consumption of goods dropped 1.1 percent monthly in October, after a 3.0 percent rise in September.

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