Norwegian Retail Sales y/y is a monthly indicator that measures a percentage change in the country's retail sales of goods and services during the given month compared to the same month of the previous year. It reflects a change in actual value including VAT.
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.