In August, retails sales expanded a seasonally and working-day adjusted 2.4% over the same month last year. The reading was well above the revised 0.6% increase observed in July (previously reported: +0.8% year-on-year) and was on par with market expectations. The acceleration reflects faster growth in sales of non-food items, whereas sales of food, beverages and tobacco deteriorated compared to the previous month. On a monthly basis, retail sales increased a seasonally-adjusted 1.5% in August, which contrasts the 1.1% decrease registered in July. Despite the acceleration in August, the trend points downward, with annual average growth in retail sales falling from 2.7% in July to 2.4% in August. Panelists polled by FocusEconomics expect private consumption to expand 2.1% this year, which is up 0.1 percentage points from last month's projection. For 2014, the panel expects private consumption to increase 1.6%.
Retail sales accelerate in August
October 8, 2013
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Switzerland Retail Chart
Note: Year-on-year and annual average variation of retail sales in %.
Source: Swiss Federal Statistics Office (BFS) and FocusEconomics calculations.
Switzerland Economic News
October 6, 2016
In September, consumer prices increased 0.1% from the previous month, just under market expectations of 0.2%, in a timid rebound from August’s 0.1% decrease.
October 3, 2016
In August, retail sales contracted a seasonally- and working-day adjusted 3.0% over the same month last year.
October 3, 2016
In September, the manufacturing Purchasing Managers’ Index (PMI) produced by Credit Suisse and procure.ch came in at 53.2 points, beating August’s 51.0 points.
September 30, 2016
Switzerland’s KOF economic barometer—a leading composite indicator for the Swiss economy forecasting a six-month period—edged up from 99.7 points in August to 101.3 points in September.
September 15, 2016
At its 15 September meeting, the Swiss National Bank (SNB) decided to maintain the target range for the three-month Libor at between minus 1.25% and minus 0.25%, which met market expectations.