Sweden retail sales growth slowed notably in February, Statistics Sweden reported Friday.

Retail sales rose only 0.2 percent in February from the prior month, when it grew 1.2 percent. Sales were expected to rise by 0.3 percent.

On a yearly basis, sales growth slowed to 4.8 percent from 5.1 percent a month ago. Economists had forecast a 3.6 percent rise. Sales for consumables gained 1.7 percent and that for durables advanced 7.5 percent.

During December to February, the retail sales volume increased 1 percent from the previous three months.

The think tank HUI Research said the retail sector is facing strong comparatives and the competition from other industries such as cafes, restaurants and the travel sector continues, which entails it to predict a stable but moderate growth of 3 percent.

The material has been provided by InstaForex Company – www.instaforex.com