Swedish retail sales slump ...News

Inflation and surging lending costs have dented private spending, an official report indicates Retail sales in Sweden plunged the most on record last month, as inflation and soaring borrowing costs continued to squeeze consumers’ spending power. In February, retail sales in the Nordic region’s largest economy slumped 9.4% compared to the same period of last year, driven by a decline in durable goods, which saw the biggest sales drop since 1992, Statistics Sweden reported on Wednesday. Economists attribute the weak results to persisting pressure on households’ real disposable incomes and purchasing power, caused by

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