Switzerland Retail


May retail sales mark first contraction in four months

In May, retail sales contracted 0.6% annually in seasonally- and working-day adjusted terms. The print contrasted the revised 0.8% expansion observed in April (previously reported: +0.4% year-on-year) and the 1.8% increase the market had expected. The reading marked the first contraction since January and the lowest level in 14 months. According to the Federal Statistics Office, the deterioration in May reflected lower sales of food, beverages and tobacco as well as of non-food items.

On a monthly basis, retail sales plummeted a seasonally-adjusted 1.0%, which followed the revised 0.6% decrease tallied in April (initially reported: -0.9% month-on-month). Annual average growth in retail sales inched down from 1.8% in April to 1.6% in May.

Panelists polled by FocusEconomics expect private consumption to expand 1.9% in 2014, which is unchanged from last month’s projection. For 2015, the panel expects private consumption to increase 2.0%.

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Switzerland Retail Chart

Switzerland Retail May 2014

Note: Year-on-year changes and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS).

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