Retail sales plunged in October, and it may, according to economists because consumers await black friday.
Consumers spent a little less money to buy new things in the Danish stores in October, where both the sale of clothes and food went back.
the Total volume of retail sales fell by 0.2 percent compared with september. It shows figures from Statistics Denmark.
According to Louise Aggerstrøm Hansen, who is privatøkonom in Danske Bank, are dropped along with that, consumers have postponed their purchases to black friday 29. november, that offers a horde of deals.
One explanation is that more and more postpone part of their consumption to november, so they can make use of black friday to make a good coup, where, among other things, many clothing stores have clearance sales. The Betorder same trend we saw last year, she writes in a comment.
Looking at the development over the past year, retail sales increased 1.2 percent.
Retail sales are followed closely by economists as one of a series of indicators to assess Denmark's economy.
the Figures do not contain the sales in foreign online shops, which in recent years has won forward and created increased competition for the Danish shops.
at the same time, there has in recent years been a trend that consumers are increasingly spending money on services such as dining and travel, which are not included in retail sales.
- It is clear that the disappointing trend in retail sales gives rise to a certain frown, writes chief economist Jes Asmussen from Handelsbanken.
- however, It is also worth bearing in mind that consumer spending overall will probably have it better than what the limping figure of butikssalget indicates, he writes in a comment.
/ritzau/Date Of Update: 26 November 2019, 08:00