Sweden: Downside risks for retail sales data - TDS

Analysts at TD Securities point out that August retail sales data for Sweden is out today, and they see downside risks with a +0.2% m/m gain (mkt: 1.0%).

Key Quotes

“The last three months have seen substantial pullback in the series, with a cumulative 2.7% decline. The unemployment rate rose half a percent from May to August, contributing to weaker spending, and likely limiting any sharp rebound in the near-term.”