Index of wholesale and retail sales, January 2003

The volume index of retail sale increased by 3.1 per cent in January 2003 compared with January 2002. The value index of retail sales rose by 3.7 per cent in the same period. Retail sales figures exclude motor vehicles and petrol.

The volume index of retail sale of food, beverages and tobacco in specialized stores rose by 9.6 per cent in January 2003 compared with January 2002. Retail sale of new goods in specialized stores increased the turnover in volume by 4.2 per cent in the same period. This sector includes clothing, shoes, electrical goods, furniture and building materials. Retail sales in non-specialized stores, which mainly consist grocery stores, increased the turnover volume by 2.8 per cent. The volume index of pharmaceutical and medical goods, cosmetics and toilet articles decreased by 1.9 per cent in January 2003 compared with January 2002.

Changes in calculations of price index of retail trade

The price index of retail trade for some industries has had a systematic different development than the price growth in partly comparable sub-indices in the consumer price index. This has created uncertainty in the interpretation of the volume development in retail sales as a measure of the production development in the trade link and as an indicator for the development of commodity consumption in households.

Statistics Norway has altered the method for the calculation of price indices for retail trade. The new method is based on the price development for commodity groups from the consumer price index and the commodity composition in the various industries. The commodity composition is from the Gross Margin Survey 1996, and will be updated as soon as the results from an equivalent survey for 2002 are available. The revised method for the calculation of a price index for retail trade is based on the same principles that are the basis for the calculation of the deflator for the retail trade component in the Index of commodity consumption

Using a new deflator revised volume figures are calculated back to 1999. The revised volume figures show a stronger growth than the ones previously published. The total index was published 28 of January and showed that the annual volume growth for retail trade on average was 1 per cent higher than previously published. The different sub-indices are released at this publishing and show that the annual volume growth for the main industry group retail sales in non-specialized stores, which mainly include grocery stores, on average is 0.4 per cent higher than previously published. For the main industry group of retail sales of new goods in specialized stores the growth in volume is 1.5 per cent higher than previously published. This sector includes clothing, shoes, electrical goods, furniture and building materials.

Volume figures for consumption in households in the quarterly national accounts and the index of commodity consumption are not affected by the revised deflating system for the index for retail trade.

Tables:

• Table 1 Retail sales. Index of value. 1995 = 100
• Table 2 Retail sales. Index of volume. Unadjusted. 1995 = 100
• Table 3 Retail sales. Index of volume. Seasonally adjusted 1995=100